One problem with this article is that it really does not tell us anything. It could have been written by a reporter with a first grade education. In fact, maybe it was. Recite a few well-known facts, take some quotes out of context, and throw-in some meaningless scare phrases like “the Fed has crossed the Rubicon of central banking,” “resorted to the ‘nuclear option’, “Depression-era clause,” and “the meltdown panic,” and lo and behold a newspaper article appears.
Someone with something to gain likely spurred this “reporter” into writing this gibberish. Likewise, we will eventually likely learn that someone (probably a few hedge-fund managers) with something to gain brought down Bear Stearns (not that the Bear Stearns management doesn’t deserve plenty of blame for putting its organization in a position where those with something to gain could kill it).
Ok Einstein can you tell us how to price the assets.
Not even the originators can tell you the values.