Montag, 31. März 2008

Fed übt sich in Tarngeschäften

Äusserst kreativ – wann beginnt die Schweizerische Nationalbank mit solchen Aktionen?

A Delaware-based limited liability company will be set up to receive, upon completion of the merger, $30 billion in various Bear holdings, such as mortgage-backed securities. The Fed will lend $29 billion to that company, which will pass all the money along to JPMorgan, Bear’s new owner. JPMorgan itself will lend $1 billion to the Delaware company. The company, managed by BlackRock Financial Management, will pay back the loans by gradually liquidating the assets. As a protection for the Fed, it gets paid back fully before JPMorgan gets back anything on its loan. The other sweetener for the Fed is that if there’s money left over even after JPMorgan gets repaid, the Fed gets it all.

Quelle: Where No Fed Has Gone Before

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Labels: USA, Wirtschaft

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