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

To: patron_anejo_por_favor who wrote (146145)	9/13/2008 2:03:14 AM
From: CalculatedRisk	Read Replies (3) \| Respond to of 306849

NY Times on Emergency Fed / Wall Street meeting ... nytimes.com Timothy F. Geithner, the president of the New York Federal Reserve, called a 6 p.m. meeting so that bank officials could review their financial exposures to Lehman Brothers and work out contingency plans over the possibility that the government would need to orchestrate an orderly liquidation of the firm on Monday ... Mr. Geithner told the participants that an industry solution was needed, no matter what, and that it was not about any individual bank ... They said he told them that if the industry failed to solve the problem their individual banks might be next.