a rumor circulating today about a large bank contacting the Fed concerning funding. things are getting ugly.
probably just a rumor which will cause panicking and then liquidity will go south once the bank's name is reveled
Just like the rumor last week that LEH was being sold for $15..... RIGHTTTTTTTTTTTTTTTTTTTTT!!!!!!! I dont think any news like that is a rumor since probably all 7000 banks that exist in the US will be knocking on the feds door. This is getting old, everyone including a few cab drivers in nyc now know about credit crisis and what the definition of a writedown is, which means enough with the rumors.
NY HOOD, thanks for the post. Can you provide a source for your rumour? palenimbus: I don't think IMB counts as a "large bank" any more. It has a market cap of about 50 million.