Fed

  • jeremysteinWSJ

    Fed

    New Fed Governor Impresses Colleagues With Nimbleness, Nuance, And Athletic Prowess

    You can’t pin down Jeremy Stein. To begin with, he’s not for or against anything. Also, he’s had gymnastics rings installed above the Fed’s conference tables, and which of his colleagues is going to go up there and get him?

    / Mar 18, 2013 at 5:37 PM
  • Fed

    Very, Very SFW: The Fed’s Flickr Page

    The Federal Reserve’s new taste for increased, if delayed, transparency has found a new venue: Flickr. Check it out for four-month old pictures of Ben & Friends. [Flickr via WSJ]

    / Mar 12, 2013 at 4:15 PM
  • Fed

    Less Than Zero

    So the Federal Reserve is meeting tomorrow and Wednesday. They are likely to do nothing. The markets are likely to go nuts anyway. Discuss.

    / Nov 2, 2009 at 4:06 AM
  • AIG, Fed

    Yes, You Too Can Borrow Billions From The Fed

    The news that AIG had asked the Federal Reserve to provide a bridge loan worth tens of billions set teeth gnashing everywhere across the universe of market watchers. The now time worn phrase moral hazard was trotted out. Weren’t we supposed to be clawing our way out of this bailout business? Our first reaction to […]

    / Sep 15, 2008 at 2:00 PM
  • Fed, Lehman

    The Fed Walks The Line On Lehman

    We earlier reported that officials at the Federal Reserve and Treasury are scrambling to find a buyer for Lehman Brothers, perhaps going as far as bending or waiving rules that limit the ability of private equity firms to buy sizable stakes in investment banks. Part of the rationale for this may be because the Fed […]

    / Sep 11, 2008 at 3:38 PM
  • Fed

    Fannie and Fannie Plunge, Sparking Rescue Rumors

    Shares of Freddie Mac and Fannie Mae have continued to drop this afternoon. Their credit-default swaps are up sharply, and there is lots of talk that they might need to raise more capital. Both plunged to their lowest price in 13 years. There are a number of contributing factors this morning. Lehman Brotherss analysts pointed […]

    / Jul 7, 2008 at 3:19 PM
  • Bear Stearns, Fed, JPMorganChase

    Taxpayers Will Pay Price For The Bear Stearns Bailout

    Late Thursday afternoon, long after the markets had closed and many on Wall Street had long since evacuated for the long weekend, the Federal Reserve revealed its estimates for the value the Bear Stearns assets it accepted as collateral for the $28.9 billion loan JP Morgan Chase used to buy the firm and prevent its […]

    / Jul 7, 2008 at 8:14 AM
  • Fed, Loans

    The Fed Put In Loan Provisions

    Corporate loan agreements are being drafted to include an express provision allowing lenders to transfer their loans to the Federal Reserve, a loan expert tells DealBreaker. The Fed has been accepting a much broader range of collateral in exchange for short-term loans through what is known as Fed “repos.” In a repo, dealers bid on […]

    / Jun 24, 2008 at 4:34 PM
  • Fed, Lehman

    Government Officials Worry About Bond Market’s Muted Reaction To Lehman News

    Investors bid up Lehman Brothers’ bonds yesterday after news broke that the company was replacing two top executives. The price of protection on Lehman bonds also declined. This reaction–which starkly contrasts to the decline in Lehman’s share price yesterday–has government officials concerned. Government officials who spoke to DealBreaker on the condition of anonymity said they […]

    / Jun 13, 2008 at 4:10 PM
  • Fed, Treasury

    Treasury Official Hints That New Fed Facility Might End

    Just one day after Merrill Lynch chief John Thain urged that the Federal Reserve borrowing facility for securities firms be made permanent, a treasury official sounded the warning that this new investment banking borrowing window may be closed when it ends its initial run in September. Under Secretary Robert Steel, whose bailiwick covers the domestic […]

    / Jun 11, 2008 at 2:24 PM
  • Fed, John Thain, Merrill Lynch

    Is Merrill’s John Thain Worried The Fed’s Investment Banking Window Will Be Closed In September?

    At a gathering of Wall Street dealmakers yesterday Merrill Lynch chief executive John Thain said he hopes the Federal Reserve will continue to permit securities firms to borrow from a new Fed facility launched amidst the implosion of Bear Stearns. We couldn’t help but notice, however, that Thain seemed a bit worried that the Fed […]

    / Jun 11, 2008 at 12:27 PM
  • Fed

    Michael Lewis Says You’re All Commercial Bankers Now

    Yesterday we interviewed an investment banker who thinks the Federal Reserve will permanently close the new facility for borrowing by investment banks when it expires in September. Michael Lewis says its too late, the impression that Wall Street’s biggest institutions are too big to fail has already taken hold and cannot be reversed. Regulation will […]

    / Jun 10, 2008 at 10:04 AM
  • Bear Stearns, Fed, Lehman

    Is The Federal Reserve Going To Close The Investment Banking Window?

    Widespread expectations that the borrowing window opened to investment banks in the midst of the Bear Stearns collapse last March will be made permanent may be misplaced, according to a longtime Fed watcher and banking expert we spoke with today. It may also explain why Lehman was so eager to shore up its balance sheet. […]

    / Jun 9, 2008 at 4:07 PM
  • Fed

    Why Is The Federal Reserve Talking So Much About The Costs of The Investment Banking Backstop?

    Although New York Federal Reserve Bank President Timothy Geithner said today that he supports the Fed’s moves to rescue Bear Stearns from bankruptcy, he went out of his way to emphasize that this was a response to an acute risk to the financial system. “It was the only feasible option available to avert default,” he […]

    / Jun 9, 2008 at 3:21 PM
  • Fed, Lehman

    Lehman Denies Fed Window Borrowing

    The Fed worked mightily to get rid of the stigma attached to banks going to its discount window. But for its newly minted investment banking fund window, the stigma perseveres. Today Lehman Brothers’s treasurer spoke to CNBC to deny speculation that it accessed the Fed’s borrowing window, and this denial seems to have lifted the […]

    / Jun 3, 2008 at 4:35 PM
  • Fed, Goldman Sachs, Lehman

    What’s Behind Wall Street’s Rift Over Fed?

    As we pointed out the other day, a rift has developed on Wall Street over whether access to funds from the Federal Reserve is worth the price of increased regulation. Lehman Brothers is reportedly willing to accept the regulation while Goldman Sachs is said to oppose it, and is willing to give up access to […]

    / May 30, 2008 at 2:42 PM
  • Bear Stearns, Fed, Hank Paulson, Senate

    Did Fed Chief Mislead Senate On Bear Stearns?

    What role did the government play in setting the price for JP Morgan Chase’s acquisition of Bear Stearns? The big story in today’s Wall Street Journal indicates that regulators may have misled lawmakers on this question.

    / May 29, 2008 at 4:12 PM
  • Bear Stearns, Fed, James Cramer, James Dimon, JPMorganChase, New York Times, Wall Street Journal

    The Loophole Legend: The Strange Life And Death Of JP Morgan’s Guarantee of Bear Stearn’s Liabilities

    The last chapter of Kate Kelly’s Wall Street Journal epic on the decline and fall of Bear Stearns tells us that the “hurried deal” to keep Bear Stearns out of bankruptcy included a “loophole” that gave Bear Stearns investors leverage to seek a higher price. By now this story of the loophole is well-known, thanks […]

    / May 29, 2008 at 2:47 PM
  • Banks, Fed

    Investment Banks Split On Fed Regulation

    Ever since the Federal Reserve began allowing investment banks access to a special borrowing facility, there have been predictions and calls for the Fed to start regulating investment banks. Now it seems the investment banks are split about whether access to the emergency window is worth the price of new regulations. More after the jump.

    / May 28, 2008 at 12:01 PM
  • Banks, Bear Stearns, Ben Bernanke, Fed, James Dimon, JPMorganChase

    The Wall Street Big Wig Lunch Bear Didn’t Get Invited To

    On Tuesday, March 11, Federal Reserve Chairman Ben S. Bernanke lunched with what Bloomberg is describing as a “Who’s Who of Wall Street leaders.” Attendees JPMorgan Chase ‘s Jamie Dimon, Goldman Sachs’s top dog Lloyd Blankfein, Lehman Brothers boss Richard Fuld, Morgan Stanley President James Gorman, Citigroup’s consigliore Robert Rubin, Blackstone Group’s little big man […]

    / May 13, 2008 at 11:55 AM
  • Ben Bernanke, Fed, real estate

    Bernanke Ups The Bailout Ante

    We’ve finally gotten around to reading the words that the Bearded One spoke at Columbia Business School on Monday night. Stitching together his various proposals, it’s clear that Ben Bernanke has become a partisan of big government. The way we read it, he pretty much calls for the federal government to bailout lenders who have […]

    / May 7, 2008 at 10:30 AM
  • Bear Stearns, Fed, JPMorganChase

    Bashing The Bear Stearns “Bailout”

    When Bear Stearns looked like it would go for $2 a share, there was a lot of sympathy for investors who stood to lose tremendous amounts. Employees—who own about a third of Bear—faced not only losing their jobs but their savings as well. So when they gnashed their teeth and hollered that their firm was […]

    / Mar 25, 2008 at 4:14 PM
  • Fed

    Fed Defies Wall Street, And Wall Street Cheers

    So the Federal Reserve decided to defy market expectations and the predictions of most Wall Street economists that it would cut 100 basis points from the Fed Funds target rate and delivered only a 75 basis point cut. Economists for Citigroup, Morgan Stanley, Goldman Sachs, Standard & Poors and Bear Stearns all called it wrong. […]

    / Mar 18, 2008 at 3:52 PM
  • Fed, Reader Poll

    Fed Day Reader Poll: Will They Go The Full 100?

    Opinion Polls & Market Research

    / Mar 18, 2008 at 11:35 AM
  • Fed

    The Federal Reserve And Its Central Banker Posse Ride To The Rescue

    We hate to interrupt yet another rendition of the Wall Street chorus singing “Happy Days Are Here” again but today’s rally could use a little sobriety. We’re sure it is wonderful news that the Federal Reserve has convinced the central bankers of the world to cooperate with its plans to snatch, well, something or other […]

    / Mar 11, 2008 at 2:53 PM
  • Fed

    Things To Do While You Wait For The Hank and Ben Show

    Consider the Sport Illustrated Swimsuit Issue Indicator.

    / Feb 14, 2008 at 9:32 AM
  • Fed

    Flying Away On A Wing And A Prayer: 125 Basis Points In 8 Days

    Well, the 47.5% minority of those polled at DealBreaker got it right. The Fed announced a cut of 50 basis points in the target rate and the discount rate, meaning we’ve seen 125 basis points slashed off the Fed Funds target rate in the last week or so. As far as we can remember, this […]

    / Jan 30, 2008 at 2:29 PM
  • Fed, Reader Poll

    Twenty-Five Or Fifty? The DealBreaker Reader Poll

    Just in case you missed it last night, we’re bringing the reader poll on today’s Fed decision back to the top of the page. There’s about an hour left to vote for this before we shut down the poll and start gearing up to cover the aftermath. Opinion Polls & Market Research

    / Jan 30, 2008 at 10:12 AM

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