Bear Stearns On Edge Of Collapse; SEC Chief In Hot Water Over Response

(NewsVisual, powered by IntellectSpace) -- Bear Stearns Cos (NYSE: BSC) is facing a major meltdown, and amid the crisis, Securities and Exchange Commission Chairman Christopher Cox finding himself a target for scrutiny.

Critics are saying that the SEC head has exhibited less than stellar leadership performance in the midst of the investment bank's downward spiral.

The SEC has been scrambling to form a bailout plan for Bear Stearns, though noticeably absent from the meetings and dealings has been Cox, whose personal plans like birthday party and family vacation caused him to miss bailout meetings and press conferences. Cox appears to be doing the opposite of what critics say is needed most during this trying time- a visible and outspoken leader activate serve as a strong leader during such a major crisis.

Those that are defending the SEC Chairman say that Cox has acted as he should, and even went beyond in taking action with to help prevent public panic by taking refusing to show anything but optimism for Bear Stearns' outlook (see article from The Wall Street Jornal).   

Despite the those who defend him, its likely that the harsh words from critics and former SEC chiefs will force Cox to take on a more aggressive role as Chairman.

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