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Message
re: Lehman Watch Thread
Posted on 9/11/08 at 11:38 pm to kfizzle85
Posted on 9/11/08 at 11:38 pm to kfizzle85
The Fed does not have to bail out BAC, and won't be doing so anytime soon. The Fed simply provided incentives for acquisitions to take place, so as to expedite what are essentially Chapter 11 bankruptcies combined with takeovers.
Didn't Congress provide a boost to Countrywide after BAC agreed to take it? Didn't this happen with Bear Stearns and JPM?
This is not about forestalling bailouts until further down the road. This is about subsidizing acquisitions so that jobs and assets can be cut loose as quick as possible. There's a huge difference.
Didn't Congress provide a boost to Countrywide after BAC agreed to take it? Didn't this happen with Bear Stearns and JPM?
This is not about forestalling bailouts until further down the road. This is about subsidizing acquisitions so that jobs and assets can be cut loose as quick as possible. There's a huge difference.
Posted on 9/11/08 at 11:45 pm to Doc Fenton
quote:
This is not about forestalling bailouts until further down the road. This is about subsidizing acquisitions so that jobs and assets can be cut loose as quick as possible. There's a huge difference.
Thanks for clearing this up, very important distinction. Forestalling bailouts would = bad bad idea.
Posted on 9/11/08 at 11:47 pm to Doc Fenton
You're absolutely right. It was more of a speculative quip about if BAC ever had to be bailed out. As far as I know, CFC was all BAC, and unlike BS (which I realize undermines my first post, just sayin.)
Posted on 9/12/08 at 5:53 am to Doc Fenton
quote:
This is about subsidizing acquisitions
You are right here.
but its still a bailout.
My opinion is that if they need the fed's help to make an acquisition, the value of the company is not quite low enough.
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