Federal Reserve Looks To Take Further Control Of The US Economy With Bear Stearns Bail Out

With the total collapse of America's 5TH largest investment house last week, the privately held Federal Reserve Bank fearing its own demise, has now helped to bail out the financially ruined Bear Stearns, by helping one of its main competitors, J.P. Morgan Chase, to purchase the company for two dollars a share.

(To put this in perspective, Bear Stearns stock was trading as high as $120 a share in recent years.)

J.P. Morgan Chase, now stands to become even more foreboding in the future having purchased Bear Stearns and its assets at such a fire sale price.

Moreover, this act on the part of the Federal Reserve has nothing to do with altruism. Instead, it's centered around keeping those institutions which feather its own nest, from fading into history. Meanwhile, one can only imagine the devastation that the collapse of Bear Stearns has caused in the lives of those who held large financial stakes in the company; many of whom appear to have now lost everything.


Mar 17, 10:59 AM (ET)

By JEANNINE AVERSA

WASHINGTON (AP) - The Federal Reserve is urgently moving to contain a deepening credit crisis and restore confidence in panicked financial markets by becoming a lender of last resort for Wall Street investment houses, which were able to secure short-term emergency loans beginning Monday.

On Wall Street, investors remained somewhat skittish. The Dow Jones industrials, which were down more than 175 points in early trading, moved into positive territory later in the morning. Trading on world markets was down sharply.

See the rest of the article here:

http://apnews.myway.com//article/20080317/D8VF8FU89.html

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See America From Freedom To Fascism Here:

http://tinyurl.com/2ealfo


Also see:

After Bear Stearns Rescue, Who's Next?

Monday March 17, 1:27 PM EDT


NEW YORK (AP) — With a deal in place to save Bear Stearns from bankruptcy, the company's shares traded above the offer price Monday even as investors began turning a critical eye to other investment banks amid worries about how far the credit contagion could spread.

Despite the weekend agreement for JPMorgan Chase & Co. to buy Bear Stearns for a fraction of its value last week, worries that other banks had sizable exposure to troubled credit markets sent global markets tumbling. The uncertainty was evident on Wall Street, where the Dow Jones industrials sank by more than 100 points.

http://tinyurl.com/33cpfl