Bear Stearns

New York Fed releases Bear Stearns, AIG details

The New York Federal Reserve has released details on toxic asset purchases from Bear Stearns and AIG, now held in Maiden Lane, LLC. The asset lists are at the link on the New York Federal Reserve website.

The release of this information today comes after reaching agreement on issues of confidentiality with JPMorgan Chase with respect to the assets of ML and the American International Group, Inc. (AIG) with respect to ML II and ML III.

Fiddling While Rome Burns

Think when companies go bankrupt their executives aren't still getting millions? Think Again.

A new study from Harvard Professors Bebchuk, Cohen and Spamann, The Wages of Failure tells us that regardless of running a company into the ground, executives make sure they get theirs.

The study focuses on Bear Stearns and Lehman Brothers.

We find that the top-five executive teams of these firms cashed out large amounts of performance-based compensation during the 2000-2008 period. During this period, they were able to cash out large amounts of bonus compensation that was not clawed back when the firms collapsed, as well as to pocket large amounts from selling shares.