Feds have paid in a total of $157 billion to stop the pain in the Stock Market

[Ichingcarpenter]

They financed the Lehman loan for $87 billion and then
loaned the banks $70 billion.


Fed repaid JPMorgan $87 billion for Lehman financing


NEW YORK (Reuters) - The New York Federal Reserve intervened aggressively to shore up the U.S. financial system this week, providing at least $87 billion to help underpin trades with bankrupt Lehman Brothers, court documents show.


Lehman and the New York Fed had requested the advance, known as a "commencement date advance" and the New York Fed repaid it, according to filings.

In effect, the New York Fed lent Lehman the funds.

A representative for the New York Fed declined to comment.

"This expansion of the Fed's credit program is unprecedented," said David Pauker, a managing director with restructuring adviser Goldin Associates.



http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3493277

[kansasblue]

1. Thank God it not some libs looking for a handout!

:sarcasm:

[Tandalayo_Scheisskopf]

5. Yeah, I mean...

Imagine if they wasted that money on education, infrastructure and alternative energy. We'd be a bunch of Communists, instead of Mussolini Facists.

[Skink]

2. Now on to the Roulette table.

[Gregorian]

3. They could accomplish the same thing without spending any money.

Just stop the illegal Iraq invasion.

[Ichingcarpenter]

6. Yes, and these two figures are the reasons the market survived today

I wonder if the Feds broke the law on the Lehman loan?

[maxsolomon]

4. the feds? don't you mean WE THE TAXPAYERS?

and our children the taxpayers & our grandchildren the taxpayers?

end the war. stop the bleeding.

[Naturyl]

7. But god forbid you try to spend a food stamp at Wal-Mart

Watch out for dirty looks in the checkout line.

But $157 billion to bail out pampered rich people and the middle-classer threatened by their mismanagement? No sweat. The rich and middle class are are "respectable" and "deserving."

[Ichingcarpenter]

8. Quit Whinning....... damn it....

these people's food costs as much as yours
even if they make millions more.

[tjwash]

9. What the fuck...now middle class people are assholes too?

jeebus fucking christmas on a cracker this place amazes the shit out of me sometimes.

[Ichingcarpenter]

10. Sarcasm, sardonic humor

Get it?

[Ichingcarpenter]

11. Colbert said this is good news

for his alien advisor.