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Fed acts Sunday to prevent global bank run Monday ( Bear Stearns Taken over,...rates cut )
MarketWatch ^
| 9:40 p.m. EDT March 16, 2008
| Rex Nutting, MarketWatch
Posted on 03/16/2008 6:52:34 PM PDT by Ernest_at_the_Beach
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To: irish guard
JPM Chase now makes good on those obligations
Maybe not. Part of the deal for the Bear Stearns credit line arranged on Friday was that JPM would not be liable if Bear defaulted. IOW, there's a really good chance that the Fed effectively bought a ton of questionable paper from Bear.
To: HeartlandOfAmerica
“THEY’RE panicked and I think that others are gonna see that as readily as I do and THEY’RE gonna panic as well. Watch the stampede.”
Bear Sterns lost 95% of its paper value over the weekend as folk b egan to realize mortage instriments could be worthless...
What would you do. I bought more gold yesterday and will max my ATM withdrawals of cash tomorrow befofe I hunker down and wait to see what happens. I figure more cash on hand will not hurt.
To: Jim Verdolini
Yeah. Keep the gold... and some cash. Maximum flexibility.
Hope it's not as bad as I fear.
143
posted on
03/16/2008 9:11:49 PM PDT
by
HeartlandOfAmerica
(Don't blame me - I voted for Fred and am STILL a FredHead!)
To: hiredhand
Yep you have been dead on as to what and when thus far !
Lets hope it’s a non event at best...........waiting , listening and learning !
144
posted on
03/16/2008 9:13:30 PM PDT
by
Squantos
(Be polite. Be professional. But, have a plan to kill everyone you meet.©)
To: Ernest_at_the_Beach
Asian markets are down tonight.
145
posted on
03/16/2008 9:17:14 PM PDT
by
GOPJ
(Obama's Rev shows blacks too can be hateful small minded bigots. Toss white guilt-it's a new day.)
To: Ernest_at_the_Beach
146
posted on
03/16/2008 9:19:39 PM PDT
by
hripka
(There are a lot of smart people out there in FReeperLand)
To: JSteff
それは中々いいご質問ですね。さァー良く分からないけど。。。
147
posted on
03/16/2008 9:27:05 PM PDT
by
AmericanInTokyo
(The GOP serves a huge cr*p sandwich every 4 years to Conservatives, & sez "shut up!, no choice!")
To: JSteff
The true answer is the URL link screwed up there.
148
posted on
03/16/2008 9:27:33 PM PDT
by
AmericanInTokyo
(The GOP serves a huge cr*p sandwich every 4 years to Conservatives, & sez "shut up!, no choice!")
To: Squantos
I would be HAPPY for tomorrow to be just another “bad Monday”, and not the catastrophe that it could be.
149
posted on
03/16/2008 9:31:50 PM PDT
by
hiredhand
(Check my "about" page. I'm the Prophet of Doom!)
To: Ernest_at_the_Beach; Travis McGee; M. Espinola; Calpernia; All
Hate to say 'I told you so. But I did. Repeatedly . . . Blame Greenspan. Blame Bernanke. Don't blame Bush. It's not his fault. But he will get all the blame from the media. Stupid Dims will be yelling and pointing fingers all week.
Oh, well . . . Nothing to see here. Time to move on.
Or . . . Learn something useful . . . Or not. Whatever will be . . . will freaking be.
150
posted on
03/16/2008 9:32:10 PM PDT
by
ex-Texan
(Matthew 7: 1 - 6)
To: Ernest_at_the_Beach
Extraordinary.
We're in a full melt down...and it doesn't matter what the dow says tomorrow. IF the stockholders don't sell it's because there's no place left to put their money.
One toilette is as good as another.
151
posted on
03/16/2008 9:34:11 PM PDT
by
Mariner
To: nicmarlo
I’m not sure that the Fed really helped matters today....
152
posted on
03/16/2008 9:36:35 PM PDT
by
Halgr
(Once a Marine, always a Marine - Semper Fi)
To: Travis McGee
AKA “There’s never just one cockroach.”
153
posted on
03/16/2008 10:04:05 PM PDT
by
Pelham
(Press 1 for English)
To: Mariner
I was wondering about the same thing. We’re not seeing anyone talking about a ‘selloff,’ just ‘bank runs’.
154
posted on
03/16/2008 10:09:48 PM PDT
by
lainie
("You had your time, you had the power, you've yet to have your finest hour" (Roger Taylor, 1984))
To: TigerLikesRooster
Actually, it was the FDIC that called back over 25 retired FDIC employees who were the experts in failed banks during the S&L crisis.
They pulled these people out of retirement.
155
posted on
03/16/2008 10:21:27 PM PDT
by
NVDave
To: NVDave; Ernest_at_the_Beach
12:50India Sensex drops 4% in early minutes (from MarketWatch.com)
156
posted on
03/16/2008 10:24:16 PM PDT
by
SierraWasp
(Changing America to an Obamanation is good? I think NOT! A McCaination isn't a whole lot better!!!)
To: Ernest_at_the_Beach
Only small-time criminals go to prison. The biggest thieves and con-men get bailed out by the government.
Moral: If you’re going to steal, steal big.
157
posted on
03/16/2008 10:27:30 PM PDT
by
B-Chan
(Catholic. Monarchist. Texan. Any questions?)
To: anymouse
Thanks for the little verse. I’m going to locate my apple stand well away from any tall buildings!
158
posted on
03/16/2008 10:32:05 PM PDT
by
NaughtiusMaximus
(Refusing to calm down since the Waco massacre.)
To: Ernest_at_the_Beach
maybe we’ll have a bank holiday. mmm, I love holidays....
159
posted on
03/16/2008 10:34:28 PM PDT
by
isom35
To: NVDave; Ernest_at_the_Beach
1:17 India Sensex drops below 15,000, last down 4.9% at 14,992.84 (From MarketWatch.com)
160
posted on
03/16/2008 10:42:31 PM PDT
by
SierraWasp
(Changing America to an Obamanation is good? I think NOT! A McCaination isn't a whole lot better!!!)
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