Say what you like about the Yanks, they don't mess about do they?
Bear Stearns sort-of-collapsed last Friday and a fire sale to J P Morgan has already been organised!
And that $30 billion (£15 billion) loan/guarantee from the Fed looks like good value compared to the UK government effectively guaranteeing all £120 billion of Northern Rock's 'assets', a good six months after it went *pop*.
Greek Irony
12 hours ago
