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The Fed. had better shut the system down
- Thread starter daddyeaux
- Start date
Quote from doli:
With the sale of BSC, people can estimate what those mortgage backed securitites are worth. There is now a price on them!
I would agree but for one thing, the Fed is at the back of this probably offering some kind of compensatory deal to JPM if valuation estimates are wrong.
March 16 (Bloomberg) -- The Federal Reserve, in an emergency weekend decision, cut the rate on direct loans to commercial banks and opened up borrowing at the rate to primary dealers in government securities.
In an announcement before the start of trading on the Tokyo Stock Exchange, the Fed lowered its so-called discount rate by a quarter of a percentage point to 3.25 percent. The central bank also approved the financing of JPMorgan Chase & Co.'s purchase of Bear Stearns Cos., including support for as much as $30 billion of Bear's assets.
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Looks like the panic is on with the FED
In an announcement before the start of trading on the Tokyo Stock Exchange, the Fed lowered its so-called discount rate by a quarter of a percentage point to 3.25 percent. The central bank also approved the financing of JPMorgan Chase & Co.'s purchase of Bear Stearns Cos., including support for as much as $30 billion of Bear's assets.
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Looks like the panic is on with the FED