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A Fed staffer announced to all the CEOs that Paulson, Geithner, and Cox would soon be coming downstairs. (As of this writing, the experts are still struggling to figure out exactly what these assets are worth.
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or so and overdraft loans then found himself so caught on calls with officials at the New York Fed, the SEC, and Bear that he spent two hours on the phone ina conference room at the Westchester County Airport. Wendy, thinking it odd that her husband had forgotten to offer their guests anything to drink on such a hot summer day, interrupted the meeting to do so herself. Thanks to it, we have a much more sophisticated understanding of how people think and behave. But the president understood the seriousness of the GSE emergency, overdraft loans and after they aired their complaints, he said firmly,
While commercial banks like JP Morgan had large, stable deposit bases, they still funded part of their business the same way the broker-dealers did: by regularly rolling over short-term commercial paper contracts that had become subject to the same erosion of confidence that had brought down Bear Stearns The United States instead advocated yet more deregulation of trade and investment. Diamond, however, was clearly flustered, as he thought he had been explicit with Geithner that hedidn.