Bear Stearns CEO in hot seat

pr. 3 - Bear Stearns CEO Alan Schwartz was in the hot seat on Capitol Hill as lawmakers review rescue plan. In the days leading up to the fire sale of investment bank firm Bear Stearns, the company was the topic of rumors, speculation and fear that led the venerable Wall Street firm to the brink of ruin.

Bear Stearns CEO Alan Schwartz, testified about those uncertain days before the Senate Banking Committee.

Deborah Lutterbeck reports.

Speakers:
Bear Stearns CEO Alan Schwartz
Fed Chairman Ben Bernanke
New York Senator Charles Schumer