Relevant:
- Thoughts On Credit Default Swaps
- Paulson: “Financial Institutions Must Be Allowed To Failâ€
- Sheila Bair's "Exit Interview"
- One day we'll know the truth about the Bear Stearns blowup and shotgun marriage, and how the government forced them to sell to JPMorgan at any price
- Dallas Fed's Fisher: "Too Big To Fail" The Biggest Problem; Now Worse Than Ever
2008-07-10 — blogspot.com
That's quite a change from the Fed Looking To Bend Rules To Aid Banks and the shotgun marriage of Bear Stearns and JPMorgan.
My Translation: Paulson is saying banks must be allowed to fail, because this mess has finally gotten "Too Big For The Fed To Bail".
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