Replies to post #164454 on Zeev's Turnips Patch-No Politics (ZEEV)

[SantaCruz]

Maybe a crisis averted?

It's not at all surprising if that were true. We've all seen how he's injected liquidity whenever there's a scare. LTCM, Argentina, the Y2k problem, etc etc.

However, I wouldn't be so sure it was 'averted'. They're probably still trying to work through it.

[mlsoft]

Joe...

For myself, there is no doubt that there was concerted intervention orchestrated by the Fed to avoid a meltdown of JPM back in late Spring and Summer of 2002. C and BAC were also protected, but the primary focus was on bailing out JPM and that is what culminated in the artificial bottom made in July and again in October -- I noted as much at the time in numerous posts. The crisis was avoided at the time, but the ultimate outcome is still uncertain - although it seems rather remote at the current time, it may well end up that the ultimate crisis was merely delayed, not entirely avoided.

mlsoft