SEC Chairman Cox says there would have been additional pressure in real economy

At the Senate Banking, Housing, and Urban Affairs Committee hearing on "Turmoil in U.S. Credit Markets: Examining the Recent Actions of Federal Financial Regulators," SEC Chairman Christopher Cox says the decision to provide funding through JPMorgan was made because of Bear's participation in a range of critical markets meant that a chaotic unwinding of its positions could have created additional pressure throughout the real economy. (:26)
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