Large bank bailout by FED news upcoming

[fencerider2]

Just hang around it will only get worst.

[fencerider2]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aRJqeFvFizug&refer=home

JPMorgan, New York Fed Agree to Provide Funding to Bear Stearns

March 14 (Bloomberg) -- JPMorgan Chase & Co. and the New York Federal Reserve agreed to provide funding to Bear Stearns Cos. for up to 28 days.

The New York Fed will ``provide non-recourse, back-to- back'' financing to Bear Stearns, JPMorgan said in a statement today.

Bear Chief Executive Officer Alan Schwartz has repeatedly denied that the securities firm faces a cash shortage, saying the company's ``liquidity cushion'' is sufficient to weather the credit-market contraction

[Joe]

Just hang around it will only get worst.


Jim, the proper word is "worse"... not "worst".

I wish the Fed would zip their pants up and quit shitting on the economy with their hot steaming infusions....

[fencerider2]

Just hang around it will only get worse.



I fixed it.