"The University of Illinois is also in turmoil. The university sports an Interim Chancellor, an Interim Athletic Director, and an Interim Football Coach; the game will be played at Soldier Field, making this an Illini Interim Home Game."
Some people named Freddie and Fanny destroy us
" It is also my belief that access to govt. capital is much more likely then a full-scale bailout" Agreed. Paulson has already said that a bailout would fly in the face of how the system is supposed to work.
come on though, if they are essentially insuring the equity or providing liquidity against insolvency, this is just a save face against a collapse.
What the weak dollar types in the Fed have demonstrated is that we will devalue our currency and act as a backstop at the slightest hint of danger -- $29B of loan guarantees to JP Morgan to acquire Bear Stearns.
I stopped reading there, but if you think Bear Sterns about to shut down is only the "slightest hint of danger" then you are out of your mind.
"Now we are in an era where rate cuts don't jump start the economy because the world doesn't believe that the Fed is concerned about inflation."
YES! FINALLY, someone actually said this. Every time Bernanke opens his mouth, market pukes. Total vote of no confidence in what this guy is saying, it's almost like double speak.