Ex-Bear Stearns CEO Schwartz Says Firm Hit by Rumors, Lack of Transparency

Alan Schwartz, the former chief executive officer of Bear Stearns Cos., said the company collapsed because of rumors and a lack of transparency on the value of its assets.

Schwartz testified today in Washington at a commission mandated by Congress to examine the roots of the financial crisis.

To contact the reporter on this story: Jesse Westbrook in ?? at jwestbrook1@bloomberg.net

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