Confidence Game Trailer: Documentary About Bear Sterns' Final Week

Below is the Confidence Game movie trailer, a documentary about the final week of Bear Stearns before its collapse during the financial crisis.

The film is directed by Nick Verbitsky and features interviews with former employees, whistleblowers, as well as Bryan Burrough, William D. Cohan, and Andrew Ross Sorkin.

Here's the Confidence Game trailer video (email readers click on the link to come watch):




Be sure to also check out previews of other financial films like the Margin Call movie trailer and the Chasing Madoff trailer.

Bear Stearns Risk Officer Joins Fed

I'll come out and say the obvious: This has got to be one of the stupidest things I've seen in a while. If you haven't already heard, Michael Alix, former chief risk officer at Bear Stearns, was just hired by the Federal Reserve. First of all, the words 'risk officer' and Bear Stearns should not even be put in the same sentence. Taken from Today's Financial News,

"In one of the latest what-were-you-thinking moves, the Federal Reserve just announced it has hired Michael Alix as a bank regulation advisor. Who the heck is Michael Alix, you ask? He is the former chief risk officer at Bear Sterns, a company that thought risk-management was an oxymoron. Essentially, he is the guy that allowed Bear Sterns to get so over-leveraged, it collapsed under its own weight. Now, he is an advisor for the Federal Reserve. At the very least, he can tell us what not to do. Frankly, I believe the Fed’s hiring of one of the executives at the center of today’s market fiasco proves that the “good-old boy” system remains alive and well in Washington. It is a disgrace."

Astonishing.