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Alan Schwartz

"We had $17 billion of cash" at the end of last year, and "that liquidity cushion has been virtually unchanged."

—Bear Stearns CEO Alan Schwartz telling CNBC in a March 12, 2008, interview that he is not aware of any liquidity problems at the firm.

Two days later, Bear Stearns, the fifth largest U.S. investment bank, was forced to seek emergency funds from the Federal Reserve and JPMorgan Chase. The firm was taken over by JPMorgan that weekend for $2 a share, which was later raised to $10.