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To: finnman69

No, it wasn’t from Goldman Sachs...it was Countrywide borrowing its entire unsecured reserve loan balance that pushed the Fed back into reality.

Otherwise, the credit crunch would have continued until the whole system broke.


18 posted on 10/20/2007 11:31:13 AM PDT by Southack (Media Bias means that Castro won't be punished for Cuban war crimes against Black Angolans in Africa)
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To: Southack

I read that the in the am Bernake was dead set againsty raising rates. He later got a call from the GS CEO, to be followed up by additional calls and meeting that day. Bernake flipped 180 in 8 hours.

Something major happened.


19 posted on 10/20/2007 11:35:46 AM PDT by finnman69 (cum puella incedit minore medio corpore sub quo manifestu s globus, inflammare animos)
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