Bear Stearns Brings US Down.
With the latest shocker from Wall Street, Bear Stearns investment bank hits the panic button and goes to the US Fed discount window through JPMorgan. The arrangement highlights some short-comings in the Fed's recent rescue and stabilization attempt which I'm sure will be analyzed at depth elsewhere. Interbank rates will no doubt sky-rocket bringing the third wave of pain in the ongoing crunch crisis.
However, the latest events have now brought USD on par one-to-one against the Swiss franc, which in my book officially puts USD into the "dirt cheap" category ;-)
However, the latest events have now brought USD on par one-to-one against the Swiss franc, which in my book officially puts USD into the "dirt cheap" category ;-)
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