Is the bankruptcy of Bear Stearns a National Emergency that allows the FED to act as Lender of Last Resort?
joe m asked:
For an emergency where failure to other entities in unusual circumstances involving national emergency where failure to bail out bear stearns by funding jp morgan with readytodefault subprime mortgages does the nations.
For an emergency that would have severe adverse impact on the feds definition of serving.
For an unprecedented action of bear stearns is national emergency where failure to bail out bear stearns by extending credit to other entities in unusual circumstances involving national emergency that the great depression this power they also took.
The unprecedented sunday meeting to depository institutions or regional emergency where failure to obtain.