Rather, the point is that the Fed bail-outs were hair-raisingly enormous, and that neither the regulators nor the regulated should be allowed to forget that. Wall Street institutions that now walk tall again survived only because the taxpayers saved them. Goldman Sachs turned to the Fed for funding on 84 occasions, and Morgan Stanley did so 212 times; Blackrock, Fidelity, Dreyfus, GE Capital - all of these depended on taxpayer backstops. The message from this data dump is that, two years ago, these too-big-to-fail behemoths drove the world to the brink of a 1930s-style disaster - and that, if regulators don’t break them up or otherwise restrain them, they may do worse next time.
It ought to be required reading for everyone covering this story.
With mortgage rates at all-time lows, now may be a great time to refinance -- if you meet new stringent criteria. Search online for "123 Mortgage Refinance" they got me the 3.21% rate even with my not so good credit history.
#1 Posted by susanwilcox, CJR on Fri 3 Dec 2010 at 12:06 AM
Hello,
Also this propublica table is great :
http://projects.propublica.org/tables/treasury-facilities-loans
This paragraph should be removed imho :
"If you would like to redistribute this article please respect FT.com" when you copy something from the FT, this is added automatically !
See ya
#2 Posted by flao, CJR on Fri 3 Dec 2010 at 04:21 AM
Arrrgh. Thanks for pointing that FT thing out, flao. I hate those stupid Tynt copy/past things that have spread like kudzu.
And that is indeed an excellent table from ProPublica.
#3 Posted by Ryan Chittum, CJR on Fri 3 Dec 2010 at 09:57 AM
Interesting that Barclays refused to take bailout money from the UK government (see here: http://www.independent.co.uk/news/business/news/city-fury-over-terms-of-barclays-bailout-982269.html) but was happy to have $802,004million from the Fed. Why's that?
#4 Posted by Neil, CJR on Fri 3 Dec 2010 at 03:10 PM
Interesting that Barclays refused to take bailout money from the UK government (see here: http://www.independent.co.uk/news/business/news/city-fury-over-terms-of-barclays-bailout-982269.html) but was happy to have $802,004million from the Fed. Why's that?
#5 Posted by Neil, CJR on Fri 3 Dec 2010 at 03:15 PM
Testing commenting system...
#6 Posted by blahblah, CJR on Tue 7 Dec 2010 at 12:59 PM
Testing commenting system... - Firefox
#7 Posted by blahblah, CJR on Tue 7 Dec 2010 at 01:04 PM