Thread: A note of caution for those with deposits in US Banks
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Old 27-07-2008, 05:42 AM   #251 (permalink)
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Quote:
Originally Posted by bkkandrew
the Fed had to guarantee the shotgun marriage between Bear Stearns and JP Morgan by providing as much as $30 billion in capital. JPMorgan is responsible for only the first 1/2 billion.
From memory, I think this is not accurate. The fed tossed up 28.5 and JPM stood for 1.5. Of that 1.5, 1.2 has gone so another 300million means the government money is being burned

I have most of my life savings in US dollars at the moment. I keep short positions in the financials as an insurance policy. I dont do it because I take any pleasure in seeing the whole sector going down the pan. Thats no good for any of us in the long run.
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