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Onkel Neal · 03-16-08, 08:11 PM

I'm not an alarmist but the latest moves by Wall Street and the Fed have caught my attention. I do not agree with the point about gold, but certainly the dollar is in jeapordy.

Two weeks ago, it was a $200 billion cash-for-bond swap for the banks.

This past week, it was a $200 billion bond-for-bond swap for the big investment houses.

Now JPMorgan Chase & Co said it would buy stricken rival Bear Stearns for just $2 a share in an all-stock deal valuing the fifth largest investment bank at about $236 million. Under the deal, the Federal Reserve will provide special financing and has agreed to fund up to $30 billion of Bear Stearns' less liquid assets.

You know... I smell smoke... these are some pretty extraordinary events.

03-16-08, 08:11 PM	#2
Onkel Neal Born to Run Silent Join Date: Jan 1997 Location: Cougar Trap, Texas Posts: 21,385 Downloads: 541 Uploads: 224	I'm not an alarmist but the latest moves by Wall Street and the Fed have caught my attention. I do not agree with the point about gold, but certainly the dollar is in jeapordy. Two weeks ago, it was a $200 billion cash-for-bond swap for the banks. This past week, it was a $200 billion bond-for-bond swap for the big investment houses. Now JPMorgan Chase & Co said it would buy stricken rival Bear Stearns for just $2 a share in an all-stock deal valuing the fifth largest investment bank at about $236 million. Under the deal, the Federal Reserve will provide special financing and has agreed to fund up to $30 billion of Bear Stearns' less liquid assets. You know... I smell smoke... these are some pretty extraordinary events.