That Chris Cox would
be an ineffective hack.
March 18 (Bloomberg) -- U.S. Securities and Exchange Commission Chairman Christopher Cox was asked on March 11 if he was concerned about the financial condition of Bear Stearns Cos.
``We have a good deal of comfort about the capital cushions at these firms at the moment,'' Cox told reporters.
Three days later, the Federal Reserve said it was pumping emergency funds into the 85-year-old securities firm through JPMorgan Chase & Co., the third-biggest U.S. bank by assets. On March 16, JPMorgan announced it was buying Bear Stearns for $2 a share, or $240 million in stock, 90 percent less than the company's market value last week.
