A daily TV/radio news program, hosted by Amy Goodman and Juan Gonzalez, airing on over 700 stations, pioneering the largest community media collaboration in the U.S.
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Fed Bailout of Bear Stearns First of its Kind Since Great Depression
The nation’s fifth largest investment bank Bear Stearns nearly collapsed last week. It was saved only after the Federal Reserve took extraordinary measures to help JPMorgan purchase the eighty-five-year-old firm. The Fed has become the lender of last resort for other investment banks in a move that marks one of the broadest expansions of the Fed’s lending authority since the 1930s. We speak with Nomi Prins, an author and former investment banker at Bear Stearns, and Max Fraad Wolff, an economist and writer. [includes rush transcript]
