The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: redfrecknj who wrote (85811)	9/1/2007 12:39:57 PM
From: bart13	Read Replies (2) of 110194

Interesting... someone noted that Bloomberg seems to point at Citi as the possible culprit. Wriston would have sh*t a brick... "All four companies, which have access to cheaper funds, said they were borrowing from the Fed as an incentive for financial institutions that need the money more to do the same." "Bank of America and Wachovia, both based in Charlotte, North Carolina, joined New York-based JPMorgan in a separate statement in which they said the transactions were intended to 'take a leadership role in demonstrating the potential value' of the discount window to other companies." "Citibank, based in New York, said in a statement that it borrowed $500 million on behalf of unnamed clients even though it 'has substantial liquidity and widespread borrowing capacity.'" bloomberg.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next