6 May 2010

Bear Sterns executives appear before panel

11:33 am on 6 May 2010

Former executives of the failed investment bank Bear Stearns have been giving their view of the collapse of the bank in 2008.

Former chairman and chief executive James Cayne to a special panel investigating the financial crisis that the firm had taken on too much risk.

However other executives have testified that market rumors and a classic run on the bank were to blame for the firm's collapse and subsequent fire sale to JP Morgan Chase.