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[Mortgage News Clips] Bear Stearns Bailout: MortgageNewsClips Special: This step lowers the spread of the primary credit rate over the Federal Open Market Committee’s target federal funds rate to 1/4 percentage point.

[Cranbrook Team Blog ~Edina Realty~] Fed Cut Fund Rate: Many economists believe the Fed will deliver another three-quarter-point cut or perhaps even a full one-point reduction at Tuesday’s meetings because Fed officials will not want to disappoint fragile financial markets, which have been on a rollercoaster ride in recent days as they have watched Bear Stearns Cos., the nation’s fifth largest investment house, suddenly be brought down by the equivalent of a run on the bank.

[Investment Fraud Lawyer Blog] Bear Stearns' Bailout: The US Is Now Officially On The Road To ...: Morgenson, whose column appeared on Sunday morning March 16 before the announcement of the purchase of Bear Stearns by JP Morgan at a fire sale price of $2 per share, wrote of the possible consequences of living in a world where regulators will rescue “even the financial institutions whose recklessness and greed helped create the titanic credit mess....” She predicted that such consequences could include a weaker currency, rampant inflation, a continuation of the year-long slow bleed at banks and brokerages firms, or all of the above.

[money blog] Before the bell: Futures decline as Bear sold, Fed acts: Already on Friday U.S. markets have reacted to news that Bear Stearns required assistance from JP Morgan Chase and the New York Fed. The Dow industrials fell 194 points, or 1.6%, the S&P 500 lost 27 points, or 2.08%, and the Nasdaq Composite dropped 51 points, 2.26%.

[Spirituality blog] AQ Report: The Impending Economic Chastisement: Along with Countrywide’s numerous balance sheet problems and investigations by state Attorneys General, BOA will also inherit a slew of potentially costly individual and class-action lawsuits. As this piece is being written, the Wall Street Journal is reporting that the FBI has a launched securities fraud investigation, seeking to discover whether Countrywide (along with 13 additional yet to be named financial institutions), among other things, engaged in falsification of data in order to inflate its stock price.

 [Trading for the Masses] The Sky is Falling . . . He says in full jest.: 06:37 Bear Stearns fire sale sparks Europe share plunge. European shares tumbled by more than 3% early on Monday as a distress sale of Bear Stearns pushed rattled investors to dump financials, fearing contagion across the banking system .

 [LEO施维] 2008-3-18 Daily Market Review: As Bear Stearns careened toward its eventual fire sale to JPMorgan Chase last weekend, the cost of protecting its debt, through an instrument called a credit default swap, began to rise rapidly as investors feared that Bear would not be good for the money it promised on its bonds. The CDS market exploded over the past decade to more than $45 trillion in mid-2007, according to the International Swaps and Derivatives Association.

 [奥利弗的空间] [NYT]Rallying the House of Morgan: Dimon’s agreement with Bear, reached at the behest of the Federal Reserve and the Treasury Department, has failed to allay fears that the worst is yet to come for the financial markets and the broader economy.

[fintag - Hedge Fund News, Views, Opinions and Gossip] HEDGE FUND NEWS @ 07 March 2008: Thankfully my blog revenues made for a decent lunch at Scotts yesterday where all my troubles seemed so far way. For a moment, it felt like it was 2006 all over again.

[NFM - Politico] Congress faces depressing economy: As the Federal Reserve moved quickly over the weekend to engineer an emergency sale of Bear Stearns, Democratic lawmakers said they will focus their attention on the faltering housing market when they return from their spring recess next month. They also vowed to push forward a second economic stimulus package that’s likely to include an extension of unemployment insurance and possibly an increase in infrastructure spending, and to take a hard look at strengthening regulation of industry.

[Rogue Columnist] Blond coed hooker Wall Street destroys economy: The geniuses on Wall Street have spent 25 years thinking up creative financial devices such as derivatives and swaps that are so complicated that now no one fully understands how deep the financial trouble extends. Many of these “innovations” are mere pieces of paper backed by nothing.

 [Pajamadeen.com: News, Political Commentary, Current Events Journalism, Faux News Satire] Big Bad Bear Stearns Bites the Dust: At about the same time that the Morgan-Stearns deal was announced, the Federal Reserve, which met in an emergency session even though they were scheduled to meet on Tuesday, slashed the discount lending rate to banks from 3.50 percent to 3.25 percent. While this move is also meant to shore up the economy, Pajamadeen thinks it will drive the dollar down further tomorrow and make the USD an even less attractive investment.

[Ethics Newsline] Fed Helps Rescue Beleaguered Securities Firm, Raising Fears of ...: As this issue of Newsline went to press, JPMorgan Chase had agreed to purchase Bear Stearns at fire-sale prices, with the backing of the Federal Reserve, according to a report from MarketWatch. Vincent Reinhart, a former Reserve .

[Long Sunday] Financial Collapse?: Again, not being an expert - what I am able to gather is that Bear Stearns was one of the first firms to experience a direct blow from the subprime mortgage crisis when two of its hedge funds collapsed last summer. The funds were invested in very esoteric securities called collateralized debt obligations (CDO's) which were found to be worth far less than Bear had been reporting.

[bloggingstocks] Before the bell: Futures decline as Bear sold, Fed acts: Already on Friday U.S. markets have reacted to news that Bear Stearns required assistance from JP Morgan Chase and the New York Fed. The Dow industrials fell 194 points, or 1.6%, the S&P 500 lost 27 points, or 2.08%, and the Nasdaq Composite dropped 51 points, 2.26%.

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