Monday, November 3, 2008

R U Kidding?

This guy gets a job, and I can't?!?

Oct. 31 (Bloomberg) -- The Federal Reserve Bank of New York hired Michael Alix, the former chief risk officer of Bear Stearns Cos., into a group that supervises banks to maintain their safety. Alix was chief risk officer of Bear Stearns from 2006 until 2008, when the bank was forced to sell itself to JPMorgan Chase to avoid bankruptcy. He was global head of credit risk management from 1996 to 2006 and worked previously at Merrill Lynch & Co. Alix will be a senior adviser to William Rutledge, executive vice president of the bank supervision group, according to a statement on the New York Fed's Web site. Staff in the group``assess the safety and soundness of domestic banking institutions,'' according to the Web site.

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