Bear Stearns paid up to $2 billion in excess margin, says former CRO
Failed US investment bank Bear Stearns forked out up to $2 billion in excess margin calls in the week of its collapse in a bid to maintain confidence, according to one of the firm's former chief risk officers.
Speaking on a derivatives roundtable at the Quant Congress Europe conference in London yesterday, Kanwardeep Ahluwahlia, chief risk officer at Swiss Re, and former chief risk officer at Bear Stearns for Europe and Asia, explained that counterparties to bilaterally negotiated over-the
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