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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SEC Chairman Cox says customers of Bear Stearns were not at risk

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 despite the run on the bank to which Bear Stearns was subjected, at no time during the week between March 10-17 were its customers at risk of losing their cash or their securities. (:18)
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