Heckuva Job, Fed?
The Federal Reserve Bank is drawing jeers for hiring a former top executive from the now-defunct investment bank Bear Stearns to help it gauge the health of other banks.
"How's this for sweet irony?" business publication Portfolio.com needled the pick.
Michael Alix was head of risk management for Bear Stearns for two years until the institution imploded this spring, a victim of its (risky) subprime-mortgage related investments.
Last Friday, the Federal Reserve Bank of New York quietly... Full Story
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