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Lawsuit for bailout?



March 16, 2008 – Comments (4)

Here's an interesting development, a fair housing group has filed a complaint about the legality of the fed bailing out an investment brokerage, which doesn't fall under the definition of a bank.  Certainly what the fed is doing with the bail is preventing the market from correcting, which is obviously in the interest of anyone wanting to get into the housing market. 


4 Comments – Post Your Own

#1) On March 16, 2008 at 3:28 PM, LordZ wrote:

I doubt that this is a true bail out, more like a step to prevent more crashes and market destabilization. BIg deal that some group has filed a complaint, Come monday had the complexity of the derrivative market not been so great you probably would have seen BSC  completely devoured by some other broker. More than likely there banker will own them. Brokers like banks have monetary funds that are insured.  

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#2) On March 16, 2008 at 6:47 PM, abitare (29.66) wrote:

Good post. Did you see the derevative market post from Mish: 

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#3) On March 16, 2008 at 7:13 PM, dwot (28.87) wrote:

OMG abitarecatania, I think I glanced at it this morning but I didn't open it to see more clearly, I just skimmed the news...

And JPMorgan just came to a rescue...

Who'se going to rescue them? 

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#4) On March 16, 2008 at 8:09 PM, abitare (29.66) wrote:

Who is going to insure the insurers? Gold/commodities are going parabolic for a reason get out of the dollar.

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