|
PureBytes Links
Trading Reference Links
|
Ben has turned into a wet noodle.
He's no monetarist...he's a wimp.
Yes, we are in deep trouble. He hasn't a clue, no
backbone and just think what fine sense he'll show
when even the Fed can't stand to lie about the true
rate of inflation...
It's like a bad dream. It just gets worse and worse...
Tim Morge
www.marketgeometry.com
--- ketayun <ketayun@xxxxxxxxxxxxx> wrote:
> Fed Cuts Discount Rate, Says Dealers May Borrow
> (Update1)
>
> By Scott Lanman
>
> March 16 (Bloomberg) -- The Federal Reserve reduced
> the rate on direct loans to commercial banks by a
> quarter-point and said it will allow primary dealers
> to borrow at the rate in exchange for a ``broad
> range'' of investment-grade collateral.
>
> The central bank, in a statement today in
> Washington, also extended the maximum term of
> discount-window loans to 90 days from 30 days. The
> Fed approved the financing arrangement announced by
> JPMorgan Chase & Co. and Bear Stearns Cos. JPMorgan
> separately agreed to buy Bear Stearns for about $2 a
> share.
>
> Fed Chairman Ben S. Bernanke is stepping up efforts
> to keep strains in financial markets from spiraling
> into a full-blown meltdown. Last week the central
> bank agreed to emergency loans to a non-bank, Bear
> Stearns, for the first time since the 1960s. Fed
> officials also announced a program to swap $200
> billion in Treasuries for debt including
> mortgage-backed securities.
>
> The Fed lowered the discount rate to 3.25 percent
> from 3.5 percent, narrowing the spread with the
> federal funds rate to a quarter point from a half
> point. From tomorrow, primary dealers will be able
> to borrow at the rate under a new lending facility,
> to be in place for at least six months, the Fed
> said.
>
> The actions are ``designed to bolster market
> liquidity and promote orderly market functioning,''
> the Fed said. ``Liquid, well-functioning markets are
> essential for the promotion of economic growth.''
>
> Investors expect the Fed to lower its benchmark rate
> by as much as a full percentage point, to 2 percent,
> when policy makers meet March 18. That would exceed
> the 0.75-point emergency reduction on Jan. 22, which
> is the largest cut since the overnight interbank
> lending rate became the main tool of monetary policy
> about two decades ago
>
> ----- Original Message -----
> From: sue crew
> To: realtraders@xxxxxxxxxxxxxxx
> Sent: Sunday, March 16, 2008 7:36 PM
> Subject: Re: [RT] TWO BUCKS a share!!! JPMorgan
> Acts to Buy Ailing Bear Stearns at Huge Discount
>
>
> Things are very serious
> ----- Original Message -----
> From: Deosaran Bisnath
> To: realtraders@xxxxxxxxxxxxxxx
> Sent: Monday, March 17, 2008 10:27 AM
> Subject: [RT] TWO BUCKS a share!!! JPMorgan Acts
> to Buy Ailing Bear Stearns at Huge Discount
>
>
> JPMorgan Acts to Buy Ailing Bear Stearns at Huge
> Discount
>
>
> By ANDREW ROSS SORKIN and LANDON THOMAS Jr.
> Published: March 16, 2008
> Bear Stearns, facing collapse because of the
> mortgage crisis, agreed Sunday evening to be bought
> by JPMorgan Chase for a bargain-basement price of
> less than $250 million, the two companies announced.
>
>
> The all-stock deal values Bear Stearns at about
> $2 a share, based on JPMorgan's closing stock price
> on Friday, the companies said. In contrast, shares
> of Bear Stearns, which fell $27 on Friday, closed at
> $30.
> A deal for Bear Stearns would end the
> independence of one of Wall Street's most storied
> firms and help halt a sweeping panic that set in at
> the end of last week, causing Bear Stearns's stock
> to swoon 47 percent on Friday.
>
>
>
----------------------------------------------------------------------------
> Be a better friend, newshound, and know-it-all
> with Yahoo! Mobile. Try it now.
>
>
>
------------------------------------
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/realtraders/
<*> Your email settings:
Individual Email | Traditional
<*> To change settings online go to:
http://groups.yahoo.com/group/realtraders/join
(Yahoo! ID required)
<*> To change settings via email:
mailto:realtraders-digest@xxxxxxxxxxxxxxx
mailto:realtraders-fullfeatured@xxxxxxxxxxxxxxx
<*> To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
|