Alan Schwartz Still Believes Liquidity At Bears Stearns Was Not A Problem Prior To Short Sellers Laying Siege To The Building

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So Citi chair Dick Parsons and former Bear Stearns CEO Alan Schwartz sat down with CNN Money to commemorate the anniversary of Lehman Brothers biting the big one today, but before they could get down to business, an extremely comatosed-looking Alan Schwartz had a couple of things he thought he'd take the opportunity to put out there. 1. Personally, it was clear to him that there potentially was some sort of global financial shitstorm on the horizon prior to "the situation" (his words) at BSC, but there really wasn't much anything anyone could do about it. 2. He stands by the statement he made the Tuesday before the sucker went down that Bear was awash with liquidity. 3. While no one has yet to conclusively prove hedge funds were colluding to destroy the firm, Al believes "they probably were. Short sellers were trying to get people to stampede." 4. Bear was "forced" against its own will to merge with JPMorgan.

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