Tuesday, March 18, 2008

Fed Hemorrhages 30 Billion To Buy Out Bear Stearns

As was clear for the last few weeks, the criminally negligent financial institutions are all ready to slide into bankruptcy and the Fed is going to step in and bail them all out. Big surprise. At least Fed officials said they would secure the loan by exercising control over all major decisions in order to minimize the central bank’s own risk.

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