Bailout
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From HBB - A bailout of SIV's.
A P.R. Blitz for a Veneer of Respectability
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Some housing bubble news from Wall Street and Washington. The New York Times, "Three of the nation's largest banks, working together at the behest of the Treasury Department, announced this morning that they were creating a large fund to serve as a buyer of bonds and other debt at a time when many investors are avoiding them. Citigroup, Bank of America and JPMorgan Chase will create a fund, called a conduit, that will be able to buy around $75 billion to $100 billion in highly rated bonds and other debt from structured investment vehicles, or SIVs.".....
From HBB - A bailout of SIV's.
A P.R. Blitz for a Veneer of Respectability
..
Some housing bubble news from Wall Street and Washington. The New York Times, "Three of the nation's largest banks, working together at the behest of the Treasury Department, announced this morning that they were creating a large fund to serve as a buyer of bonds and other debt at a time when many investors are avoiding them. Citigroup, Bank of America and JPMorgan Chase will create a fund, called a conduit, that will be able to buy around $75 billion to $100 billion in highly rated bonds and other debt from structured investment vehicles, or SIVs.".....
Comments
Scooby Doo superfund can't flee subprime mess: James Saft
...Like a villain in a Scooby Doo cartoon, the banks behind the new $80 billion bailout fund are essentially saying, "We would have gotten away with it, if it wasn't for those pesky subprime loans."....
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