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BoE, Fed Deny Mortgage Security Buyout Plan

Started by milbank , Mar 22 2008 03:25 PM

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#1 milbank

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Posted 22 March 2008 - 03:25 PM

"Central banks, including the Bank of England, have been looking at ways to ease the strain," a BoE spokesman said. "The BoE is not, however, among those reported today to be proposing schemes that would require the taxpayer, rather than the banks, to assume the credit risk."


So, who is?
In regard to Bear, Stearns, the U.S. taxpayer already is.

http://www.nytimes.c...anks-talks.html

Edited by milbank, 22 March 2008 - 03:28 PM.

"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw

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#2 Rogerdodger

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Posted 22 March 2008 - 06:31 PM

Great minds... You beat me to it.
"Nature's Failure to Function in a 'Predictable Way'... 500 years ago?"
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.

#3 milbank

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Posted 22 March 2008 - 08:36 PM

In our case would "pickled brains" be a more accurate description? :lol:

"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw

"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe

#4 arbman

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Posted 23 March 2008 - 01:06 AM

Fed is cornered when they extended their 28 day initial commitment, they know they won't be able to get out of the extended commitment in 90 days. They will have to keep rolling their commitment and the inflation will roar and the people will pay for this for years to come...

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#5 arbman

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Posted 23 March 2008 - 01:45 PM

In fact, the market has been daring the central banks, the central banks can talk all they want now, they won't walk the walk, they never did since 1929...

@qckisa on twitter

#6 pdx5

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Posted 23 March 2008 - 10:00 PM

In regard to Bear, Stearns, the U.S. taxpayer already is.



My understanding is only if Bear acquisition fails then US taxpayers will foot
the bill. If no defaults occur, no bill. It is like the FDIC insurance to bank
accounts. Unless savers lose money due to bank failure, there is no cost to Treasury.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
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