A look back at the banking environment during the collapse of Bear Stearns, with Alan Schwartz, former Bear Stearns CEO/Guggenheim Partners executive chairman, who says institutions need to be more careful on how they define leveraging. Schwartz also says while there are some good things about regulation, they are over complicating.
WNBC's Jonathan Dienst reports the FDA has raised safety concerns statin drugs pose a small risk of raising blood sugar levels; shares of First Solar were halted after it released much lower-than-expected earnings; Republican Senator from Maine, Olympia Snowe says she will not run for re-election; and JP Morgan Chase CEO Jamie Dimon says breaking up the bank will not unlock any value.
Former FDIC Chair Sheila Bair said Thursday she believed Europe was heading into a recession, but she sounded confident about U.S. banks.