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Death by rescue: how botched bailouts doomed companies that didn't need to fail.(Cover story)
THE road to hell is paved with bad interventions. This year's emergency sallies into the banking system by the Fed, the Treasury, the FDIC, and the SEC have backfired. They were intended to ameliorate a credit crisis and to keep it from spreading. Instead they've inflamed the crisis into an outright panic that now has spread around the world and triggered a recession.
Conservatives may rightly object to all this government meddling in private markets on general principle. But the more salient objection is that government has botched it. The attempts to deal with failures at Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch, AIG, Washington ...
- JPMorgan Chase and Federal Reserve Bank of New York To Provide Financing To...
- Press release article from: Business Wire March 14, 2008 700+ words
...that, in conjunction with the Federal Reserve Bank of New York, it has agreed to provide secured funding to Bear Stearns, as necessary, for an initial...Chase is working closely with Bear Stearns on securing permanent financing...
- With the Collapse of Bear Stearns and the Federal Reserve Heavily Involved in...
- Press release article from: PR Newswire March 18, 2008 700+ words
...Fed before J.P. Morgan Chase would agree to take over Bear Stearns over the weekend. "The fallout from poor hedge fund and...last year so it's logical to assume there may be other Bear Stearns situations waiting to be revealed," said Darrell Jobman...
- Billionaire Lewis could block 'derisory' JP Morgan offer; BEAR...
- Newspaper article from: The Birmingham Post (England) March 19, 2008 700+ words
...The deal includes EUR30 billion in special Federal Reserve financing for Bear Stearns' less liquid assets. It follows an emergency...Friday for Bear Stearns by JP Morgan through the Federal Reserve after its liquidity deteriorated significantly...
- ERM a way to make sense of the madness.(Commentary)(Bear Stearns Companies...
- Magazine article from: Business Insurance Zolkos, Rodd March 24, 2008 700+ words
...Saturdays back, we talked about Bear Stearns and the fact that, with...JPMorgan Chase acquiring Bear Stearns the following Monday for...billion credit line from the Federal Reserve. Those same Bear Stearns shares had been trading for...
- Bear Employees at a Crossroads: Top performers may be OK; garden leave issues...
- Magazine article from: Investment Dealers' Digest Papini, Jessica April 7, 2008 700+ words
On Wall Street, still abuzz about Bear Stearns' rapid fall, there are probably less than...market? Last month, at the behest of the Federal Reserve, JPMorgan purchased Bear Stearns at $10 a share. While neither firm has...
- Bernanke: Bear Stearns collapse threatened economy.(chairman Ben S. Bernanke,...
- Newspaper article from: The Christian Science Monitor Grier, Peter April 4, 2008 700+ words
...offered by Federal Reserve Board chairman...the sale of Bear Stearns to JPMorgan...president of the Federal Reserve Bank of New York. Bear Stearns' brush with...actions of the Federal Reserve and Treasury...deal between Bear Stearns and ...
- OTC Counterparty Credit Risk In The Post-Bear Stearns World.(Bear Stearns...
- News wire article from: Mondaq Business Briefing April 9, 2008 700+ words
...JPMorgan) and the Federal Reserve regarding the purchase of The Bear Stearns Companies Inc...speed with which Bear Stearns deteriorated...actions of the Federal Reserve and JPMorgan...the event of a Bear Stearns bankruptcy...
- Where to Invest When the Fed Cuts Rates; Bear Stearns Identifies Industry...
- Press release article from: Business Wire January 31, 2001 700+ words
...cut on January 3, the Federal Reserve Board made the first of what Bear Stearns' economists believe will...anticipation of these cuts, the Bear Stearns Equity Research Department...easing, Elizabeth Mackay, Bear Stearns senior managing director...