City group borrowed $500 million from Fed
#1
Posted 22 August 2007 - 11:37 AM
#2
Posted 22 August 2007 - 11:49 AM
That may explain the very high short ratio on DOW yesterday. Someone knew it. If you have to borrow money to cover margin calls, it means you are losing a lot of money.
Actually all the major banks borrowed from FED. No one is spared.
#3
Posted 22 August 2007 - 11:54 AM
#4
Posted 22 August 2007 - 11:57 AM
Even ones that don't need it. They are running a mini domestic carry trade.
5.75% is hardly a bargain.
#5
Posted 22 August 2007 - 12:07 PM
Even ones that don't need it. They are running a mini domestic carry trade.
5.75% is hardly a bargain.
Ecomony just starting to turn and all big banks are already in trouble. Wonder if all the risk officers will keep their jobs.
#7
Posted 22 August 2007 - 12:14 PM
#8
Posted 22 August 2007 - 12:14 PM
They are borrowing "on behalf of clients."
Surely, not as a favor.
That was a spin. If you have free money at 2,3,4,5 % from deposits why borrow at 5.75%?
#9
Posted 22 August 2007 - 12:29 PM
#10
Posted 22 August 2007 - 12:29 PM