Mesirow Financial's broker-dealer (PTI Securities) is financially sound. Our businesses are largely unleveraged and within the broker-dealer, where we borrow to fund ongoing operations, we have unused credit lines available to us. Bear Stearns is a relatively insignificant counterparty and based on our review, we have determined that we have minimal exposure from that relationship.

According to our Chief Economist Diane Swonk, “The rapid collapse of Bear Stearns was a shock, but the Fed has reacted promptly and with correct and adequate actions. Its decision to lower the discount rate will not only help ease the buyout of Bear Stearns, but should prevent further panic and any additional investment bank runs.”