Bailout iz verb. Dependz on the noun.

April 3rd, 2008 by alyx · 3 Comments · bear stearns, bernanke, Uncategorized

Benny exits total denial mode, acknolwledges that while the feds did not bail out Bear Stearns per se, the Fed did bail out the economy as a whole:

“Given the exceptional pressures on the global economy and financial system, the damage caused by a default by Bear Stearns could have been severe and extremely difficult to contain,” Bernanke said. “Moreover, the adverse impact of a default would not have been confined to the financial system but would have been felt broadly in the real economy through its effects on asset values and credit availability.”

iznotbailout.jpg

izbailout.jpg

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