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Pastimes : All Clowns Must Be Destroyed
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To: pater tenebrarum who wrote (31067)5/4/2000 10:18:00 AM
From: MythMan  Read Replies (2) of 42523
 
>>Greenspan said market participants should not rely on the Fed to bail them out in the event of a bank failure. "We must be careful not to foster an expectation that policymakers will ultimately solve all serious potential problems and disruptions," he said.

In the event of a failure, "shareholders would not be protected, and I would envision appropriate discounts or 'haircuts' for other than federally-insured liabilities," he said.<<

cnnfn.com
roflmao! His bullS*(t betrays him.. He'll bail anything.

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