Holy Cow asked:
The Federal Reserve and the U.S. government swiftly approved the all-stock buyout to complete the deal before world markets opened. The Fed also essentially made the takeover risk-free by saying it would guarantee up to $30 billion of the troubled mortgage and other assets that got the nation’s fifth-largest investment bank into trouble.
The Federal Reserve and the U.S. government swiftly approved the all-stock buyout to complete the deal before world markets opened. The Fed also essentially made the takeover risk-free by saying it would guarantee up to $30 billion of the troubled mortgage and other assets that got the nation’s fifth-largest investment bank into trouble.
http://biz.yahoo.com/ap/080317/jpmorgan_bear_stearns.html
If you went to Vegas and lost all your money at high risk poker, is it fair to expect a government bailout to save you house in the Hamptons?
Hendrix
