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The loosened standards have been in place since an emergency loan program was enacted during the Bear Stearns fallout, but the plan was not frequented by Wall Street investment banks at the time. Now however, it seems as if many firms will begin dipping into the Fed’s loan program.
The Fed also loosened its capital restrictions following Bank of America’s purchase of Merrill Lynch last week. Bank of America will be allowed to maintain a capital level below the Fed’s agreed upon minimum until markets hopefully stabilize at some point in the future.
Originally posted by Mammoth
Dow is making a sharp increase, going way above the point they started with...
One moment your in a crisis and then all are suddenly recovering. Even AIG...
NEW YORK (CNNMoney.com) -- Washington Mutual had its credit rating lowered to junk Monday by Standard & Poors amid continuing weakness in the housing market.
The action follows downgrades of the nation's largest savings-and-loan by Fitch Ratings and Moody's last week as WaMu tries to reassure nervous investors that it has the ability to survive the credit crunch.
U.S. Considering Conservatorship for AIG, Report Says (Update)
(CEP News) - The U.S. government is considering conservatorship over AIG, much like the Fannie and Freddie take over last week, according to two sources who briefed Bloomberg on today's discussions."This would mean another shareholder wipeout," said David Ader, U.S. government bond strategist with RBS Greenwich Capital.
CNBC later reported the Fed doesn't have legal authority to take conservatorship.
The Federal Reserve will provide a roughly $85 billion bridge loan to AIG (AIG.N) and take a nearly 80 percent stake in the company, according to a source briefed on the matter.
Originally posted by indigothefish
what are the reprocussions of this?
"What the U.S. government is doing is basically delaying the recovery of the economy really by keeping AIG alive and by going back to the printing press to issue more U.S. dollars, which long term should be negative to the U.S. dollar," said Ronald Chan, chief investment offer for Asian equities with Fortis Investments in Hong Kong
Originally posted by Regenmacher
reply to post by toepick
Ron Paul represents the people whereas most of the current two party system is here to enrich the super class. The irony is most people have no clue they are being shafted by the top 1%.
It's dead Paul....
[edit on 17-9-2008 by Regenmacher]
Originally posted by blablablaxyz
The USA has a two-party system ?