The bailout begins and along with that, the leaching of Jane Q Public.
Hoping to avoid a systemic meltdown in financial markets, the Federal Reserve on Sunday approved a $30 billion credit line to engineer the takeover of Bear Stearns and announced an open-ended lending program for the biggest investment firms on Wall Street.
Bear Sterns gambled [...]
Archive for March 17th, 2008
Bail
Posted in Economy and Business, tagged 1929, bailout, Bear Sterns, Federal Reserve, JP Morgan Chase, taxpayer money on March 17, 2008 | 2 Comments »
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