Monday, March 17, 2008
Let the bailouts begin!
$2 a share or $270 million was a real cheap price for Bear Stearns, but then again maybe all they got was a building and a name. We, the taxpayers are putting up a $30 Billion line of credit to cover the "assets" and
In a highly unusual maneuver, Fed officials said they would secure the loan by effectively taking over the huge Bear Stearns portfolio and exercising control over all major decisions in order to minimize the central bank’s own risk.Let us hope that while they exercise control they also pay attention this time.
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