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Is this the first time banks moved independently to stabilize the financial system?
by jacooper 4y ago
Is this the first time banks moved independently to stabilize the financial system?
- ncjeixiehsb 4y agoHappened in the last crisis too when then treasury Secretary Paulson brokered some deals and JPM stepped up more than once to buy toxic assets nobody knew how to value. Probably this deal was done with Yellen coordinating things although that’s not mentioned. Guesses are that when nobody wanted to step up and buy SVB at par they had to do something here or face the wrath of this administration and half senate.