I guess on a lazy Sunday afternoon with nothin to do, you just get togehter with your buds at work, the mucky-mucks from a multi-billion dollar failing company, and some reps from the Fed gubmint with very deep pockets, and you buy out this injured gorilla with guarantees from da taxpayers, all in time for a late supper.
This blows my mind — I’ve never seen anything like it. These thinkgs usually take months.
You have a short memory. The LTCM bailout and the cross-border ING purchase of Barings both happened virtually overnight. The latter was probably more impressive, as it required direct involvement by the financial regulatory authorities of two countries. Both were ultimately a good thing for stabilizing panicked markets, and ultimately pretty much a wash for the acquiring/financing institutions.
Feds are staving off a systemic financial crisis ... think of dominoes falling.... they have no choice.
But we have have a congress and a president that wants to give away billions to foreign governments? Disgusting.