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2016-05-30 03:56:29


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yeezy 350 moonrock pattern That’s why when Bear Stearns was failing in March 2008, the Fed helped engineer a deal for JP Morgan Chase to acquire it and stand behind its obligations, providing an emergency loan backed by some of Bear’s sketchiest mortgage securities. While Lehman was really nothing more than the sum of its toxic assets and shattered reputation as a venerable brokerage, AIG had solid collateral that the Fed could lend against with a decent expectation of repayment.In its carefully hedged, anonymously sourced story, the Times isugg handbags uk i7boE now suggesting some New York Fed officials were “leaning toward the opposite conclusion—that Lehman was narrowly solvent and therefore might qualify for a bailout.,adidas yeezy apparel That left the Fed without options. And the Fed could not impose the haircuts without forcing AIG into default; the creditors logically concluded a government that was spending 2 billion to avoid ugg handbags uk i7boEa default wasn’t going to create a default on purpose to save billion. The government did push for modest haircuts for its creditors that might have saved taxpayers as much as billion, but seven of the eight top creditors flatly refused.adidas yeezy boost 950 replica

yeezy 3 boost for sale It’s only allowed to lend against plausibly solid collateral, and Lehman looked hopelessly insolvent. Whatever. It’s not a reality-based belief.,yeezy 350 pirate black adidas releasethat any one of them defaulting on its obligations could further depress confidence and spark runs on the others. They would have been thrilled to find a way to save Lehman. Unfortunately, the Fed could not force them to change their minds; several of them weren’t even U.adidas yeezy boost gs



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