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Dalraddy
1 Comment
The Fed: Counterparty of Last Resort [view article]
Why was the loan to Bear Stearns changed from 28 days to the length of the weekend? Perhaps because indications from Asia showed that there was no time to waste. Remember that Geithner was the treasury official most deeply and constructively involved in the 1998 Asian crisis, and is the member of the Fed best able to understand financial markets. Apr 04 09:35 AM