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FED BAILING OUT BEAR STEARNS
This topic covers the controversial announcement that the Federal Reserve Bank and J.P. Morgan are orchestrating the acquisition of Bear Stearns by J.P. Morgan to stave off a classic run on a major investment bank. The thinking is that Bear Stearns is 'too big to fail' and must be backed by the federal government -- at least for the short-term to fend off a domino effect in failures.
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President Bush said some very nice things about the Federal Reserve's rescue, once removed, of Bear Stearns, the wobbly...
The NYT reports on the questioning of the Fed chairman over his institution's role in the bailout of Bear Stearns
Top Sources: Fed Bailing out Bear Stearns
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