SEC to Make Wall Street Banks Reveal Capital, Liquidity Levels
By Jesse Westbrook
May 7 (Bloomberg) -- The U.S. Securities and Exchange Commission will require Wall Street investment banks to disclose their capital and liquidity levels, after speculation about a cash shortage at Bear Stearns Cos. triggered a run on the firm, SEC Chairman Christopher Cox said.
The disclosures will be ``in terms that the market can readily understand and digest,'' Cox said today during a speech in Washington. The SEC will require the disclosures ``later this year,'' he said.
To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net.
Last Updated: May 7, 2008 14:05 EDT
"'I beg you, father, send Lazarus to my family, for I have five brothers. Let him warn them, so that they will not also come to this place of torment.’ Abraham replied, ‘They have Moses and the Prophets; let them listen to them.’ No, father Abraham,’ the rich man said, ‘but if someone from the dead appears to them, they will repent.’ And Abraham said, ‘If they do not listen to Moses and the Prophets, they will not change and repent, even if someone were to rise from the dead.’” Luke 16:27-31
LE CAFÉ AMÉRICAIN
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Soupes, Potages et Bouillons
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