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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Mike Johnston who wrote (85349)	8/20/2007 12:09:28 PM
From: Mike Johnston	Read Replies (1) \| Respond to of 110194

DB did not need the money, they just wanted to show support for the Fed's action. LOL -------------------------------- Mon Aug 20 12:07:13 2007 EDT NEW YORK (Dow Jones)--Deutsche Bank AG (DB) Friday tapped the Federal Reserve's discount window, hours after the central bank cut the rate on direct loans to banks to 5.75% from 6.25%, the Financial Times reported on its Web site Monday, citing people familiar with the situation. Those cited in the FT report said the bank's move was intended to show support for the Fed's action. Historically, banks have been reluctant to borrow from the Fed's discount window out of concern such actions would be seen as a sign of weakness. However, the FT reported that the Fed, in a conference call Friday, told senior Wall Street bankers that no such stigma would be attached for asking for such loans. There was no indication of the amount of the borrowing, the FT reported. Deutsche Bank declined comment.