For some homeowners, that wolf at the door is actually the Federal Reserve: James Currell is struggling to prevent his Minnesota home from being foreclosed. But his lender isn’t a bank. It is the U.S. government. The Federal Reserve Bank of New York is facing the prospect of foreclosing on a number of properties in [...]
Entries Tagged as 'bear stearns'
May 5th, 2010 · No Comments · bear stearns
Look who’s in the news again – Jimmy Cayne! Ah, “Bear Stearns” tag, coming out of retirement. So after taking a couple of years to indulge in weed, bridge, navel-gazing and perhaps contemplating the demise of the venerable investment bank, has he had any major revelations? No, apparently not. Bear Stearns’ collapse was still 100% [...]
November 5th, 2008 · 2 Comments · bear stearns
Can you think of a man who can better manage risk than the former Chief Risk Officer of an overleveraged bank that collapsed into itself? Apparently the Fed can’t, because on Halloween, they hired Michael Alix, the Chief Risk Officer from Bear Stearns, as a bank regulation adviser at the New York Fed (thx to [...]
July 25th, 2008 · No Comments · bear stearns, bernanke, fail, subprime, writedowns
Stolen but we loved it. Thanks Jess! Click for fullsize.
April 3rd, 2008 · 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 [...]