Comments on: The Brinkmanship at Bear Stearns http://emac.blogs.foxbusiness.com/2008/04/03/the-brinkmanship-at-bear-stearns/ Fri, 20 Nov 2009 19:57:36 -0500 http://wordpress.org/?v=2.8.5.2 hourly 1 By: WILLIAM MCNIFF http://emac.blogs.foxbusiness.com/2008/04/03/the-brinkmanship-at-bear-stearns/comment-page-1/#comment-1144 WILLIAM MCNIFF Fri, 04 Apr 2008 12:36:33 +0000 http://emac.blogs.foxbusiness.com/2008/04/03/the-brinkmanship-at-bear-stearns/#comment-1144 Congress better get moving on issues like this as more and more Americans are relying on the financial markets for retirement vehicles. We need a clear overarching policy, not necessarily more micro management in the form of new regulations. Congress better get moving on issues like this as more and more Americans are relying on the financial markets for retirement vehicles. We need a clear overarching policy, not necessarily more micro management in the form of new regulations.

]]> By: Paul T. http://emac.blogs.foxbusiness.com/2008/04/03/the-brinkmanship-at-bear-stearns/comment-page-1/#comment-1139 Paul T. Fri, 04 Apr 2008 04:25:22 +0000 http://emac.blogs.foxbusiness.com/2008/04/03/the-brinkmanship-at-bear-stearns/#comment-1139 Let there be no mistake, Bear Sterns was effectively seized by the Federal Reserve Bank of New York in a coup over that weekend in March. This was quite evident from the testimony of the principals involved on Thursday in the Senate. Evidently, shortly after the seizure of Bear Sterns, all the major investment Banks, found a wave of Federal Reserve Commissars descending upon them to "monitor" their activities. (Soviet Military music plays in the background). To our new comrades in the Financial Sector, I say welcome. You are required to obtain your free copy of "Das Kapital" from your heroic Federal Reserve Commissar by next Friday, or you may be required to enter a re-education program. Renaming of all targeted Banks to include the word, "People's", will commence shortly. Walter Bagehot will not be mocked. Have a nice day. Let there be no mistake, Bear Sterns was effectively
seized by the Federal Reserve Bank of New York in a
coup over that weekend in March. This was quite evident
from the testimony of the principals involved on Thursday in the Senate.

Evidently, shortly after the seizure of Bear Sterns, all
the major investment Banks, found a wave of Federal Reserve Commissars descending upon them to “monitor”
their activities. (Soviet Military music plays in the
background).

To our new comrades in the Financial Sector, I say welcome. You are required to obtain your free copy
of “Das Kapital” from your heroic Federal Reserve
Commissar by next Friday, or you may be required to
enter a re-education program.

Renaming of all targeted Banks to include the word,
“People’s”, will commence shortly.

Walter Bagehot will not be mocked. Have a nice day.

]]> By: Sridhar Telidevara http://emac.blogs.foxbusiness.com/2008/04/03/the-brinkmanship-at-bear-stearns/comment-page-1/#comment-1138 Sridhar Telidevara Fri, 04 Apr 2008 00:05:05 +0000 http://emac.blogs.foxbusiness.com/2008/04/03/the-brinkmanship-at-bear-stearns/#comment-1138 In regard to Bear Stearns deal, I have a couple of questions and I would be highly delighted if you could respond to the same. 1. IS Fed accepting non-confirming mortgages as collateral? 2. Although I fully commend the decision to bail out Bear Stearns, I am wondering why JP Morgan Chase? Why not any other bank or a consortium of banks? Does that imply all other banks in the economy are yet to disclose more losses? and who made this decision? 3. Also, while small business firms are not getting loans, and household credit card debt going up are we going to see failures in the credit card sector? 4. When did it become obvious that Bear Stearns was headed for bankruptcy, and who placed what calls to facilitate the rescue effort? 5. Why was taxpayer money used to help rescue Bear, arguably the victim of its own risky bets, and how was the loan valued? Could you please explain how tax payer money is involved? 6. What were government officials so worried would happen to the financial system if Bear went under? In regard to Bear Stearns deal, I have a couple of questions and I would be highly delighted if you could respond to the same.

1. IS Fed accepting non-confirming mortgages as collateral?

2. Although I fully commend the decision to bail out Bear Stearns, I am wondering why JP Morgan Chase? Why not any other bank or a consortium of banks? Does that imply all other banks in the economy are yet to disclose more losses? and who made this decision?

3. Also, while small business firms are not getting loans, and household credit card debt going up are we going to see failures in the credit card sector?

4. When did it become obvious that Bear Stearns was headed for bankruptcy, and who placed what calls to facilitate the rescue effort?

5. Why was taxpayer money used to help rescue Bear, arguably the victim of its own risky bets, and how was the loan valued? Could you please explain how tax payer money is involved?

6. What were government officials so worried would happen to the financial system if Bear went under?

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