Bear/Fed: Bear Fed, others hungry?

Faced with continuing seizures in the normal flow of cash around the financial system, the Federal Reserve is trying to make funds available where they are needed. The aim is to stop financial firms’ liquidity problems turning into potentially disastrous insolvencies. Its emergency support for Bear Stearns, via JPMorgan, is the latest example. The deal essentially gives Bear intermediated access to Fed lending that it would have got anyway – but not for a couple of weeks, which might have been ...