Fed's role forever changed with Bear Stearns bailout
The Federal Reserve's March 14 decision to give Bear Stearns a special bailout loan may have permanently altered the central bank's role. Most notably, the loan sets a precedent that could expand the Fed's mission. "Whether we like it or not, they've re-created the financial universe," said Charles Geisst, a Manhattan College finance professor.
Washington Post, The | 03/28
This story published in NAW SmartBrief on 04/07/2008
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