Letters to the Editor

This letter is associated with the following article:
Read other letters about this article
Nightmare on Wall Street
Another emergency rate cut, and investment bank Bear Stearns goes on the auction block. The canary in the coal mine? It's dead.
Andrew Leonard [2008-03-17]

  • Bear Stearns as Canary in the coal mine?

    Bear is only the lastest in a downward spiral. You could point to last year when BNP Paribas froze investment funds and the entire structured products markets started to freeze up as the first canary. Plus look at all the "equity injections" ( aka buying major stakes) of the Sovereign Wealth Funds into blue chip finance companies like Citi and Merrill.

    It looks like we are in deep doo and those cranky critics of the Fiat monetary system might actually have the gall to be proved correct.

    Link

    http://www.forbes.com/2007/08/09/bnp-paribas-subprime-markets-equity-cx_ll_0809markets06.html

    -- Uncle Fester
    [Read Uncle Fester's other letters]
    Sunday, March 16, 2008 09:22 PM
Read other letters about this article

Letters Help