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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (85935)	8/17/2007 2:52:56 PM
From: Les H	Read Replies (2) \| Respond to of 306849

Plunge Protection Team Convened Today to Endorse Fed Action The participants on the call welcomed and expressed strong support for the Federal Reserve actions. They reacted very positively to comments by the New York Reserve Bank President and the Board of Governors Vice Chairman that both encouraged use of the discount window and recognized such use as a sign of strength. Some were so delighted that they giggled uncontrollably like school girls. The participants concluded by agreeing that the Federal Reserve actions, particularly the announced changes in the primary credit program, would encourage financial market participants to take steps that would improve conditions in funding and credit markets. The participants included ABN AMRO; Bank of America; The Bank of New York Mellon; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; The Bear Stearns Companies Inc.; Citigroup; Deutsche Bank Group, Goldman Sachs; JPMorgan Chase & Co.; Lehman Brothers; Merrill Lynch; Morgan Stanley; UBS; U.S. Bank; Wachovia; and Wells Fargo. earthtimes.org