CNBC Discusses Fed's Actions on Bear Stearns (NYSE: BSC)
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CNBC discusses Fed's actions on Bear Stearns (NYSE: BSC):
Fed says JPMorgan (NYSE: JPM) was used because Bear Stearns does not have access, currently, to the window. Bear could not wait for the new plan that would have allowed Bear Stearns to access the window directly.
Fed said JPMorgan will not be liable for any default on the Bear Stearns collateral.
Fed says JPMorgan (NYSE: JPM) was used because Bear Stearns does not have access, currently, to the window. Bear could not wait for the new plan that would have allowed Bear Stearns to access the window directly.
Fed said JPMorgan will not be liable for any default on the Bear Stearns collateral.
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