[lbo-talk] populist eruptions

[Patrick Bond]

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> Bear refused to take part in the LTCM rescue ten years ago, which is    unusual, since most firms don't want to alienate the central bank. I    wonder if the Fed didn't have a little revenge on its mind.    Doug
>   
A similar hit was done on Continental Illinois, when it was supposedly 
nationalized in 1984; and in 1988 some trade union/community groups used 
the Community Reinvestment Act agin' 'em - and the Fed stunned everyone 
by agreeing that Continental had violated CRA and would not get 
permission to expand its branch network to Arizona.


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