Posts filed under “M&A”
Here’s a glimpse at what must have been a fascinating discussion:
"The Federal Reserve’s moves to prop up Bear Stearns Cos. will come to be seen as "the worst policy mistake in a generation," the Fed’s past head of monetary affairs said. The action is comparable to "the great contraction" of the 1930s and "the great inflation" of the 1970s, said Vincent Reinhart, a scholar at the American Enterprise Institute, who retired from the Fed last fall.
Mr. Reinhart’s assessment, delivered at a panel discussion at the institute Monday, is one of the harshest appraisals yet by a high-profile observer of the Fed’s decision in mid-March to lend money to Bear both as temporary funding to make a merger possible, and then to finance $29 billion of Bear’s assets to make its takeover by J.P. Morgan Chase & Co. possible."
I’d love to get a recording or transcript of the speech. Any one have access?
Ex-Fed Official Declares Bear Deal Worst Mistake in a Generation
April 28, 2008 4:10 p.m.
Is Rupert Murdoch’s altering of the Wall Street Journal creating an opening for his competitors? That was one of the topics we discussed at Tuesday evening’s NYU lecture on media, business, and blogging. This morning, we are going to briefly explore that. In the past, I have offered up advice to various media. I have…Read More