This looks like something from The Onion, but alas it is not.

Maybe the Fed is treating this guy like George Costanza, whatever he says do the opposite.

 

 By the way New York Fed, in addition to the SEC is responsible for overseeing Wall Street.

    Nov. 3 (Bloomberg) -- The Federal Reserve Bank of New York
hired Michael Alix, the former chief risk officer of Bear
Stearns Cos., into a group that supervises banks to maintain
their safety.
     Alix was chief risk officer of Bear Stearns from 2006 until
2008, when the bank was forced to sell itself to JPMorgan Chase
& Co. to avoid bankruptcy. He was global head of credit risk
management from 1996 to 2006 and worked previously at Merrill
Lynch & Co.
     Alix will be a senior adviser to William Rutledge,
executive vice president of the bank supervision group,
according to a statement on the New York Fed's Web site. Staff
in the group ``assess the safety and soundness of domestic
banking institutions,'' according to the Web site.
     New York Fed spokesman Andrew Williams declined to comment
on the hire.

The government shouldn't have hired this guy to deliver mail.  Did anyone check his references?

You know there was a time in America where a loser of this magnitude would have had the common courtesy to jump off a bridge or stage a "hunting accident" to avoid shaming his family.  No longer.  He will be overseeing your 700 Billion.