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 [...]
LEH
Lehman Brothers Sale?
As soon as I watched the markets soar within the last few minutes of trading today, I knew something was up. I smell indirect Fed intervention. According to the WSJ: Lehman Brothers Holdings Inc. (LEH) is actively shopping itself to potential suitors, including Bank of America Corp., people familiar with the matter said Thursday.. Bank [...]
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 [...]