The Fed. had better shut the system down

Discussion in 'Wall St. News' started by daddyeaux, Mar 16, 2008.

  1. we're out of control now and counter parties are who?

    I'm headed to the coin shop tomorrow to see if they have any gold left..

    of course I hold US dollars and the rest of the world is likely much better off.
  2. doli


    With the sale of BSC, people can estimate what those mortgage backed securitites are worth. There is now a price on them!
  3. say what?.. they're worth the sweat off a fly's ass
  4. Of what ...

    Less than nothing?

    Because that is what BSC sold for.
  5. BSC sold for what the cost of the back office and lawyers will get....

    the US taxpayer get to pick up what is left below zero which is completely unknown now

    billions, trillions...

  6. mokwit


    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.
  7. 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.


    Looks like the panic is on with the FED
  8. with what??

    printed money.. the US gov. is completely broke which is why gold is up 3200 tonite

    the jig is up..
  9. mokwit


    Bernanke is on record as saying the US can't go broke because it has "printing presses". Don't shoot the messanger.
  10. Tums


    who? .... me?

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    #10     Mar 16, 2008