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bank bailout: Fed Announces First "Official" Bank Bailout - 03/14/08 03:48 PM
Most of us knew this sad day would come. The feds announced earlier today that it is going to bailout Bear Sterns with the assistance of JP Morgan Chase (Chase Manhattan).
Bear Sterns announced today that it has secured financing through the Federal Reserve Bank of New York with the assistance of Chase Manhattan, which is being used to funnel the cash to Bear Sterns. Chase Manhattan will not be responsible in case of default by Bear Sterns. According to Bear Sterns' CEO Alan Schwartz "our liquidity position in the last 24 hours has significantly deteriorated. We took this important step to … (1 comments)

bank bailout: Banks Get $200 Billion...Tell Me That Isn't A Buyout! - 03/12/08 12:41 PM
Yesterday, the feds in their infinite wisdom decided to pump an additional $200 Billion into the financial markets to help ease the credit and mortgage crisis even further. As soon as the news hit the markets, the Dow Jones Industrial started to climb and climb, eventually gaining over 400 points, the biggest one-day jump since 2002. Also shares of both JP Morgan Chase and Citigroup (Chase Manhattan & Citibank) were up over 6% and 9% respectively. American homebuilder Centex was also up 11.5%.
Now, while I applaud the feds desire to increase the funds available to the banks to ease this credit … (9 comments)

 

Charles Tharp ~ Inland Empire Real Estate & Short Sale Specialist

Fontana, CA

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Prudential California Realty

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