Wall Street fears a big US bank is in trouble

WiseOne · Mar 14, 2008

Global stock markets may have cheered the US Federal Reserve yesterday, but on Wall Street the Fed's unprecedented move to pump $280 billion (£140 billion) into global markets was seen as a sure sign that at least one financial institution was struggling to survive.

The name on most people's lips was Bear Stearns. Although the Fed billed the co-ordinated rescue as a way of improving liquidity across financial markets, economists and analysts said that the decision appeared to be driven by an urgent need to stave off the collapse of an American bank.

The only reason the Fed would do this is if they knew one or more of their primary dealers actually wasn't flush with cash and needed funds in a hurry, Simon Maughan, an analyst with MF Global in London, said.
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Read More Here >> Times Online

WiseOne's Comments, I reckon it's like putting a band-aid on a severed leg...more like propaganda really to keep American's calm.

Rebel Patriot · Mar 15, 2008

what will you do when the banks start failing?

the banks that hold your assets, manage your 401k's, etc.

this is the sound of ice scraping against the side of the hull on the Titanic.

the fed pumps in $200 billion and the dollar still declines.

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