[SchroedingersCat]

I knew they couldn't just let them fail.

ed repaid JPMorgan $87 billion for Lehman financing

The New York Federal Reserve intervened aggressively to shore up the U.S. financial system this week, providing at least $87 billion to help underpin trades with units of bankrupt Lehman Brothers Holdings Inc, court documents show.

The Fed's action is the latest sign of how U.S. authorities have been seeking to prop up financial markets following the failure of Lehman

Is anybody keeping track of how much the Fed is providing?

[seahorse]

Yea, they just lied and said they wouldn't bail them out.

[kpeavey]

Is anybody keeping track of how much the Fed is providing?

More than I can come up with in a lifetime of paying income taxes.

[seldom_seen]

Man, JP Morgan sure gets some good breaks. Them and Goldman Sachs with their man Hank in Washington. They're probably laughing at all these chumps that don't have the right "connections." It's starting to read like a Mario Puzo novel.

[neocone]

So... if I lost money in FNM... I will just ask the IRS to forgive my taxes since they engineered a complete descent of the shares down to 0.

Makes sense... I am all for being bailed out by the feds.

[hope_full]

Un-frickin'-believable. Just unbelievable. Wish I knew how they were going to fund all these giveaways. Guess this is just the "Print-as-you-go" payment plan.

[Armageddon]

Lehman got bailed out ? I thought is was AIG ? Now it's both ? When do the big 3 auto makers and airliners get bailed out ? Oh I forgot, they aren't part owner of the FED and have a licence to print their own money and bail out who they choose. It's nice living in a Plutocracy.

[startswithearthquakes]

NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU
NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU
NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU
NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU
NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU
NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU
NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU
NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU NAU

Coming sooooooooon .... Doom Do OoO OM DOOOOOO0000000MMMMm!!!!!!

[smallpoxgirl]

The title of this thread is misleading. This isn't a Lehman bailout. This is the fed paying off a bunch of Lehman's debts post-mortem.

[drgoodword]

The title of this thread is misleading. This isn't a Lehman bailout. This is the fed paying off a bunch of Lehman's debts post-mortem.

It may not be a bailout, but a large number of the crew and some passengers were given a most luxurious rescue.

The total cost for this "cashout" (if you will) has gone up to $138 billion..

J.P. Morgan gave Lehman a $87 billion advance Monday and a $51 billion advance Tuesday, according to a filing with the U.S. Bankruptcy Court of the Southern District of New York.

(snip)

"Presumably, the funds to repay the loan at the end of each day come largely from the Federal Reserve's Primary Dealer Credit Facility," said Louis Crandall, an economist at Wrightson ICAP.

[ReverseEngineer]

J.P. Morgan gave Lehman a $87 billion advance Monday and a $51 billion advance Tuesday, according to a filing with the U.S. Bankruptcy Court of the Southern District of New York.

(snip)

"Presumably, the funds to repay the loan at the end of each day come largely from the Federal Reserve's Primary Dealer Credit Facility," said Louis Crandall, an economist at Wrightson ICAP.

[/quote]

That is some printing press they got going there! Its seems like they are printing off about $80B a day now to rescue their buddies.

Can I apply for a $1B loan here to join the ranks of the mega-rich? Can I wheel it over to the grocery store to buy a loaf of bread?

Reverse Engineer