Bear Stearns just can't win. The humiliation of the Fed-backed, JP Morgan Chase bailout was rank enough. Now comes word from Financial News Online that the SEC is taking a look at statements by executive committee chairman Ace Greenberg and CEO Alan Schwartz before the deal that said, outright, that the bank had no liquidity problems. No one really believed them, obviously, but did they lie? People have speculated. It will be interesting to see what comes of this. The irony is that JP Morgan Chase will be liable for all the damage. 

For more:
- here's the Financial News Online article
- Schwartz likened to Skilling. Article

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