Larry Kudlow of CNBC Reporting of Emergency Federal Reserve Meeting Tonight

CNBC television | 7/23/2002 | Larry Kudlow

[rumrunner]

Larry Kudlow mentioned that the Federal Reserve may be meeting tonight to discuss the exposure of Citibank and JP Morgan Chase to derivatives and the stock market collapse.

Possible that both banks have billions of derivatives that need to be unwound. Would collapse the banking industry.

[My Favorite Headache]

The Cleaner??

Or

Mr.Wolf

Mmmmmm...good coffee! Pretty please...with sugar on top....

[NeoCaveman]

Hey 10% flat tax, gold based currency, I'll think about voting for you.

[RightWhale]

the total notional amount of those derivative contracts

What on earth is a notional amount? Something they made up to make themselves feel good about it?

[Momaw Nadon]

"You don’t need guidance, Anakin ... I see you becoming the greatest of all Jedi."

[Travis McGee]

We are just watching the Titanic begin to tilt, but believe me, the high speed course was set and the iceberg struck years ago.

[bonesmccoy]

Hell, I got off that ship two years ago. The Republicans are the ones using their own dinghys instead of relying on the Democrat's one liners.

[terilyn]

ROFLOL! I want to see LIEberman's mascara running all over his face.

[Travis McGee]

Great posts! Ping me to any opus that you post, please.

[txhurl]

Look at all the actions taken during the Great Depression.

WPA and the CCC.... the only way to get a decent park anymore.......

So what sort of rabbits might still be in the hat? What's left?

[Momaw Nadon]

Ping!

[Travis McGee]

The Rubins of this world always take off in a jet helicopter to land on a 300 foot megayacht at the end of the picture.

[CyberAnt]

You are so right about that book. I couldn't put it down. It made such an impact to me. Also ... "BIAS" is just as important in showing the real agenda of the media.

Since BIAS has been such a big seller, I'm hoping more and more people are finally getting the message.

Now, with Ann's new book "Slander", it should give people a lot to think about.

[Fracas]

LOL. You are really tough! Great word picture, too.

[CyberAnt]

You are so right! It would be the biggest headline!

I have been praying about this, because we need to find a way to outwit these people. I don't know how yet, but ...

[Travis McGee]

If I knew whether it will be a deflationary or inflationary depression, I'd be a millionaire in 10 years.

I have a great and novel idea! You bet one way, I'll bet the other, and in ten years we split 50-50! Ain't I a genius? Maybe we can call it something snappy like "Medium Term Capitol Management".

[CyberAnt]

Dream on ...!!

[terilyn]

Well, let's hope this time that Arnold is there with a major weapon to blow the helicopter to kingdom come!

[terilyn]

Little Joey blubbering...Must see TV ;)

[My Favorite Headache]

On April 25, 2002, in an effort to promote financial literacy among students in inner-city schools, former President Bill Clinton today announced a partnership with Operation HOPE at Roberto Clemente Middle School in Harlem, New York. Through this initiative, President Clinton and the William J. Clinton Presidential Foundation will work with Operation HOPE to deliver Banking on Our Future financial literacy instruction to every school in Harlem by 2004.

Prior to the announcement, President Clinton and John Bryant spoke to students in a Banking on Our Future classroom session at the school taught by volunteers from Citibank, the signature sponsor of the BOOF - NYC Harlem Initiative and Carver Federal Bank, also an initiative sponsor. The session was attended by numerous Banking on Our Future supporters, including New York Congressman Charles Rangel, Matt Toledo, president & publisher, Los Angeles Business Journal; David Wieder, managing principal and chief executive officer, Domini Social Investments; and Mark Updegrove, publisher, Newsweek.

The New York City chapter of Banking on Our Future was launched in April 1999 and has educated over 5,900 students in 40 schools (including seven schools in Harlem) throughout all five boroughs. Additional sponsors of the Harlem Initiative include Deutsche Bank, the founding BOOF - NYC sponsor; Fleet; JP Morgan Chase; Washington Mutual and Paul L. Newman/Newman’s Own. BOOF NYC Advisory Council members include Allstate; Atlantic Bank; Bank Leumi, USA; The Bank of New York; Bank of Tokyo-Mitsubishi; Carver Federal Bank; Citibank; Deutsche Bank; Federal Reserve Bank of New York; Fleet; Fuji Bank and Trust Company; HSBC, USA; JP Morgan Chase; New York City Board of Education/ Mentoring Partnership; New York State Banking Department; North Fork Bank; Quick & Reilly and Washington Mutual.