Sarbains Oxely

Will Bear-Stearns’ upper management be held responsible under the Sarbanes Oxley act? The head of BS went on record just 11 days ago saying that they were liquid.

You just made those up. “Bear Stearns”? “Sarbanes Oxley”? Puhleeze. Not even slightly convincing.

:slight_smile:

Well, eleven days ago they *were * liquid, and leveraged no more (or less) than anyone else in the business.

It was less than a week ago that other institutions decided not to lend to them for whatever reason. Once they lose the confidence or their lenders the wheels come off real fast.

As someone who has no idea what a Bear-Stearns or a Sarbanes Oxley is, could you post a link so that we know what you’re talking about?

Bear-Stearns

It’s a bank that was heavily involved in the suprime morgage mess. At the end of last week, it ran into liquidity problems and came close to collapse. JPMorgan Chase came in as a white knight and announced they were buying the company, albeit at a drasticly reduced cost.

Sarbanes Oxley

The Sarbanes-Oxley Act increased disclosure requirements for public companies and strengthened the penalties for misleading the public in terms of a company’s financial status.