The Federal Reserve has hired Michael Alix with the responsibility of assessing the risk and soundness of institutions.

He was, “The chief risk officer of Bear Stearns from 2006 until 2008.”

I have made comments now and again….OK, nearly continuously….That one of the problems with Wall Street is that there is no accountability for the big players.

This like making Typhoid Mary chief cook on the Titanic.

There is an entire generation of mostly Ivy League trained investment banking types who should be banned from the securities business for life plus 800 years.