I think they were worried Monday morning was going to be ugly. LINK
Another Effort to Stop the Depression
Started by
Sentient Being
, Sep 22 2008 02:33 AM
4 replies to this topic
#1
Sentient Being
-
- Traders-Talk User
- 4,262 posts
Member
Posted 22 September 2008 - 02:33 AM
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#2
Sentient Being
-
- Traders-Talk User
- 4,262 posts
Member
Posted 22 September 2008 - 03:07 AM
I may be wrong but given that this was a late sunday night deal, I"m getting the feeling that once again, the feds were looking at what was going to happen when the market opened and decided they had to act to save us from something very ugly.....like a liquidity driven depression.
I don't know how the pieces all fit together and maybe someone here does. But this late night Sunday action smacks of desperation to me.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#3
Sentient Being
-
- Traders-Talk User
- 4,262 posts
Member
Posted 22 September 2008 - 03:13 AM
Ok, this may be the bottom line, it allowed the fed to hand them more money right away, to stay afloat.
according to AP: In the surprise announcement late Sunday, the central bank said that to provide increase funding support to Goldman and Morgan during the transition period, they would be allowed to get short—term loans from the Federal Reserve Bank of New York against various types of collateral.
according to AP: In the surprise announcement late Sunday, the central bank said that to provide increase funding support to Goldman and Morgan during the transition period, they would be allowed to get short—term loans from the Federal Reserve Bank of New York against various types of collateral.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#4
dobs
-
- Traders-Talk User
- 4 posts
Member
Posted 22 September 2008 - 03:39 AM
Maybe this is just not-so-closet protectionism at is finest. Rumors mounting that maybe MS would become 49% owned by a Chinese sovereign entity. So instead of running hat-in-hand to the Chinese this move / these moves might allow MS time to try to stay more domestically owned. I don't know. Just a thought.
#5
humble1
-
- Traders-Talk User
- 5,959 posts
Member
Posted 22 September 2008 - 05:50 AM
my MS broker called me sunday with the details. yes, i do think it was partly to keep the chinese from effectively taking over. of course, i had been watching the drama about MS throughout the week.
of one thing i was certain: if the chinese came in, i would surely close our family accounts! so, i am pleased with the outcome on that part.
Edited by humble1, 22 September 2008 - 05:50 AM.
