- Citigroup Lost $20 Million on Facebook IPO Trades
- Sticker Shock: What College Is Likely to Cost in 18 Years
- JPMorgan to Shake Up Risk Team After Big Loss: Report
- Icahn Raises Stake in Chesapeake, Wants Board Seats
- Marc Faber: Chance of Global Recession Is Now 100%
- Week Ahead: Europe Has Wall Street Bull on Short Leash
- What Happened to Stocks? Most Unloved in 50 Years
- Cool Jobs: From Gold Stacker to Bed Tester
- Many Greeks Moved Their Money Abroad Long Ago
MOST SHARED
- Zero China Growth Is ‘Probable’: Gordon Chang
- Marc Faber: 100% Chance of Global Recession
- Citigroup Lost $20 Million on Facebook IPO Trades
- China Growth Risks Signal Need for Fiscal Action
- Senate Summons Dimon to 'Get to the Bottom' of JPM Mess
- What College Tuition Will Look Like in 18 Years
- Romney Leads Poll Of Small Business Owners
- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- Bacon Tourism: From the Davos of Bacon to Bacon Mecca
MOST POPULAR
HOT ON FACEBOOK
Bear Stearns CEO: No Liquidity Crisis for Firm
Text Size 
Three days before announcing that Bear Stearns' financial situation had substantially worsenend, chief executive Alan Schwartz told CNBC he is not aware of any imminent threat to the Wall Street investment bank's liquidity.
In an exclusive interview with CNBC's "Squawk On the Street" on Tuesday, Schwartz refuted market rumors about a cash crunch at Bear Stearns [BSC
Loading...
()
] that had knocked its stock down sharply. Schartz said he didn't know where the rumors originated.
"Part of the problem is that when speculation starts in a market that has a lot of emotion in it, and people are concerned about the volatility, then people will sell first and ask questions later, and that creates its own momentum," he said.
Bear Stearns was given a boost this week when Securities and Exchange Commission Chairman Christopher Cox said his regulatory agency is comfortable with the 'capital cushions' at the nation's five largest investment banks.
Schwartz says he has numbers to back up his insistence that the bank's position is solid.
"We finished the year, and we reported that we had $17 billion of cash sitting at the bank's parent company as a liquidity cushion," he said. "As the year has gone on, that liquidity cushion has been virtually unchanged."
Last summer, two Bear Stearns hedge funds collapsed, in large part because of their huge weighting in subprime mortgages. The collapses were blamed for triggering the worldwide freeze in credit markets and have continued to hold down the investment bank's profitability.
- The Nasdaq has suffered the most from the EU crisis showing there's risk in the usual tech stocks.
- Targeting more Millennials is just one of the items brewing for consumers in the world of spirits.
- It seems many people may need a reminder of how NOT to act on a plane. Here are a few tips.
- Here are some very unusual roadside stops along American highways that might peek your interest.
- How three generations of Americans are dealing with the finances of retirement.
Data is a real-time snapshot *Data is delayed at least 15 minutes
