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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?


To: Cogito who wrote (54163)3/16/2008 10:32:22 PM
From: Katelew  Read Replies (1) | Respond to of 542907
 
I just broke into a CNN comment that the Federal Reserve has put in $30 billion to support the Bear Stearns takeover.

What a steal by JP Morgan that we taxpayers are footing.

Last fall I told an investor group I frequent that we would end up seeing what the Fed. Reserve as "lender of last resort" really meant. We've been underway for awhile but this takes it up a notch because mortgages weren't the problem for Bear. It was derivatives.