April 3, 2008
Fed Staff Monitor Investment Banks
Federal Reserve staff are onsite at the five major investment banks to monitor their financial condition. Chair Cox will testify today before the Senate banking committee, amid inceased Cong, ressional criticism of its performance. Senator Grassley, for example, asked the SEC's inspector general to review the agency's 2005 investigation into Bear's pricing of mortgage-related assets, which the SEC closed without filing charges. WSJ, The Fed Hits the Street.
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