Wall Street Law Blog

Bear Stearns Executive Committee (minus Ace Greenberg) to Testify This Week

By Brett Sherman

The Sherman Law Firm

This should be very interesting-

The Financial Crisis Inquiry Commission, a bipartisan group examining the causes of the credit crisis, will hear testimony from four of the former big five members of the  Bear Stearns Executive Committee this week.

Cayne and fellow former CEO Alan Schwartz, for CFO Samuel Molinaro, and President and Co-Chief Operating Officer  Warren Spector all are expected to appear on Wednesday or Thursday.

Notably, Ace Greenberg - another former Bear Stearns CEO, and the fifth member of the infamous quintet that (according to a Harvard University Study) split more than $1.4 billion in CASH compensation between 2000 and 2008 (annual cash bonuses plus proceeds from selling Bear Stearns common stock paid to them as part of their bonus packages in previous years) - is not scheduled to appear.

In recent post, Wall Street Law Blog pointed out Ace Greenberg's seemingly damning comments about his own conduct in an interview with PBS shortly after Bear Stearns collapsed in March 2008.

Perhaps the FCIC does not read our Wall Street Law Blog yet...

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