On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the Federal Reserve that the American economy was in grave danger of a complete meltdown within a matter of days. “There was literally a pause in that room where the oxygen left,” says [...]
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Fed Bailout Consequences
Speaking of Warren Buffett.. According to the Reuter’s article “Buffett says Fed avoided chaos in Bear bailout”, WB is to have said: “I think the Fed did the right thing in stepping in on Bear Stearns,” Buffett said at the annual meeting of his Berkshire Hathaway, Inc. insurance and investment company. “Just imagine the thousands [...]
Due Diligence Example
Here’s an example of why it’s important to conduct your own due diligence and make your own investments decisions: BEFORE: AFTER: It’s your money, manage it wisely.
Where’s The Asset Allocation?
According to today’s Wall Street Journal: J.P. Morgan Chase & Co.’s deal to buy Bear Stearns for $2 a share wiped out the life savings of many of Bear’s 14,000 employees, who owned one-third of the firm’s shares. Most employees at Bear, known for its loyalty and a strong merit-driven culture, expected to lose their [...]
Bernanke Go Bragh
Looks like the Fed is giving out some green for Saint Patrick’s Day. According to Sunday’s (yes, Sunday) press release: First, the Federal Reserve Board voted unanimously to authorize the Federal Reserve Bank of New York to create a lending facility to improve the ability of primary dealers to provide financing to participants in securitization [...]
Market Meltdown?
After continued months of financial experts, market pundits, and government reassurances that there is nothing wrong with our economy and that there’s nothing to be concerned about in the marketplace, the Treasury Department and the Federal Reserve convened a weekend meeting with major global financial firms and investment banks to come up with a plan [...]