Hints and tips:
...Central Bank on asset purchase programmes....
...Remember that Bear Stearns had been shepherded into a rescue takeover earlier in the year, and other banks were bailed out in the massive US Tarp programme only weeks later....
...The arrangement mirrors BlackRock’s role in supporting the Fed during the 2008-09 financial crisis, when the central bank hired the firm to manage assets from Bear Stearns and American International Group...
..., central banks, regulators and big investors....
...It has 280 staff, and has quietly worked for numerous public institutions, including the UK Treasury and European Central Bank....
...The bank bulked up during the crisis by taking over the collapsing Bear Stearns and Washington Mutual....
...There had been no viable acquirer for the bank, as there had been earlier in the case of Bear Stearns. “We had only one tool, which was lending against collateral....
...Significantly, Janet Yellen, the Obama-appointed Fed chair, voted in favour of the de-designation — having overseen its supervision by the central bank regulator since she took charge in 2014....
...Mr Malpass, a former Bear Stearns economist who is set to become Donald Trump's top economic diplomat, laid out the story as an example of US resilience and the importance of strong leadership....
...Pre-crisis, it missed the warning signals before the collapses of both Bear Stearns and Bernard Madoff’s Ponzi scheme....
...In 1958 he married Joyce Low, the daughter of a Bear Stearns banker, and in 1963, was made partner....
...Not as nailed on a signal as it was in the past though when it would have been (with notable exceptions like Bear Stearns*) a bad news is good news moment....
...For evidence of that, think about how swings in CDS prices signalled that smart money was getting worried about Lehman Brothers, AIG or Bear Stearns in 2008. Can this happen?...
...The two were instrumental in persuading Mr Dimon of the merits of acquiring Bear Stearns, the failed investment bank, in March 2008....
...One repo market expert said: “Repo used to be something that banks made money off of, now the central counterparties will make money off of it and the Fed is just going to do more of it.”...
...Part of the misconduct for which the bank was penalised was committed by Bear Stearns and Washington Mutual before regulators pressed JPMorgan into acquiring those companies in 2008....
...It has been dubbed China’s ‘Bear Stearns moment’ by some and its ‘Lehman moment’ by others. It is likely to be neither....
...Analysts from Bank of America Merrill Lynch think that China will experience its “Bear Stearns moment” on Friday, when the country will probably see as its first ever bond default....
...Related links: Barely Stearns in China – FTAV China solar credit does not equal gold – FTAV...
...Bear Stearns and Lehman Brothers, the traditional fixed-income investment banks, led the charge....
...It is also worse than 2007, at a time when the five banks faced more competition before the demise of Lehman Brothers and the acquisitions of Bear Stearns and Merrill Lynch....
...the eurozone an “island of stability” on Thursday as the European Central Bank held firm on interest rates, despite inflation grossly undershooting its target....
...But it is hard to untangle the web of responsibilities and obligations between big banks such as JPMorgan, governments and central banks....
...Jimmy Cayne, the former head of Bear Stearns, seems to have devoted himself to playing bridge....
...JPMorgan swallowed Bear Stearns and Washington Mutual, BofA bought Merrill Lynch and, even for those untransformed by mergers, there has been a monumental restructuring....
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