Reply #2: See also- Behind the Deal, the Hand of the Fed. (NYT, March 08)

[chill_wind]

Adam Smith’s invisible hand has a puppeteer: the Federal Reserve.

By ANDREW ROSS SORKIN
Published: March 25, 2008


In case there is any confusion about who was pulling the strings behind the scenes of JPMorgan Chase’s acquisition of Bear Stearns, the curtain was lifted Monday. By raising its bid — with the grudging approval of the Fed — to $10 a share, from $2, JPMorgan exposed what had long been whispered about but no one dared to say aloud: the Fed is officially in the deal-making business.

http://www.nytimes.com/2008/03/25/business/25sorkin.html?n=Top/Reference/Times%20Topics/People/S/Sorkin,%20Andrew%20Ross


Thanks for starting this thread, slipslidingaway. Time to start exposing the stench for what it is.