The Fed, by law, can only purchase government-backed debt, but in severe emergencies, it’ll create a special “lending facility” that it’ll fund, along with funding from the Treasury Department as a backstop.
Savings and Loan Crisis: Aftermath The S&L crisis was arguably the most catastrophic collapse of the banking industry since theGreat Depression. Across the United States, more than 1,000 S&Ls had failed by 1989, essentially ending what had been one of the most secure sources of home mortga...
well, obviously this is the case. It is a little trickier than that. There's some nuance to it, and I think this is a definition that has changed over time. If we back up though, and try to look at it to compare it to how you would treat retail banking, so the consumer side o...
Is the five year grace period for legacy JVs real, or just a backstop period by which time any outliers will be forced to align with the FIL? Should such legacy JVs "bite the bullet" and start changing their structures now? What happens if no consensus can be reached between the share...
P. Morgan, who, with a group of bankers, stepped in to backstop the financial system. But the mother of all financial panics began with the stock market crash of 1929, which triggered the Great Depression. During the Depression years, a total of around 9,000 banks and nine million ...