You Can’t Make This Shit Up X4 November, 2008
Just in case you needed another reason to vote Democratic this election: the chief risk officer for Bear Stearn, a guy named Michael Alix, has landed a job with the Federal Reserve. He will be in charge of looking out for banks that are taking risky investments. Sheesh.
“In a move that is sure to put to rest the notion that there are no second acts in American life, former Bear Stearns chief risk officer Michael Alix has landed a job in the office of the Federal Reserve charged with assessing the safety and soundness of domestic banking institutions. We suppose that Alix at least has plenty of experience with unsound banking institutions. He was the chief risk officer of Bear Stearns from 2006 until 2008. So, basically, he was the guy on the mast charged with yelling “iceberg” just before the titanic introduced its bow to a floating hunk of ice. Prior to that he ran credit risk management for Bear from 1996 to 2006, Jon Keehner at Bloomberg points out. That worked out just great.”
Remember: Obama would be ‘risky.’ And Republicans aren’t?