Intercontinental Exchange .... that board leadership is scary

Frederic Salerno, one of the distinguished members of Bear Stearns's risk committee, is the head of the audit committee and the lead outside director.

Vincent Tese, also on that same distinguished Bear Stearns's risk committee, is the head of the compensation committee.

Well, that looks a little frightening.

Let's read the purpose of the Bear Stearns Finance and Risk Committee:

The purpose of the Finance and Risk Committee is to assist the Board in its oversight of the Corporation's: credit, market and operational risk management; funding, liquidity and liquidity risk management policies, balance sheet and capital management, and insurance programs and related risk issues and mitigation.