On Mar 14, 2008, at 12:24 PM, B. wrote:
> Quick question - is "going to the Fed's discount
> window," and what I read below, essentially the
> postmodern way -- sorry, I mean the economist's wonky
> way -- of saying "going to the doorstep of govt. help
> with hat in hand?"
It is, but it's also highly stigmatized. The Fed doesn't like it except as a last resort, and the rest of the world views it as a confession that you're seriously, perhaps terminally, ill. This morning's news instantly took about 50% off the value of Bear's stock.
Doug