Maiden Lane is in downtown Manhattan near Wall St. Terry
On Sat, Feb 21, 2009 at 12:09 PM, R C Macaulay <[email protected]> wrote: > > > > Hey Jed, > > Speaking of capital.. ever heard of this quasi-govt firm.. "Maiden Lane > 111".. ?? > > Richard > > http://www.msnbc.msn.com/id/29311015 > > "As the collateral calls kept coming, the Federal Reserve Bank of New York > announced in November it would create a separate company, dubbed Maiden Lane > III, to help alleviate AIG's cash crunch caused by the credit-default swaps > written by Financial Products. By buying up the underlying mortgage-related > securities, the government freed Financial Products to terminate billions of > dollars in credit-default swap contracts that had plagued AIG's balance > sheet. So far, the government has poured more than $60 billion into the > effort." > > > > > > With regard to both energy and the economy those bumper stickers should ask: > "Where is John Galt when we need him?" > > Ayn Rand gave us John Galt in fiction. Reality hands us Bernie Madoff. No > one does more harm to capitalism than capitalists. > > - Jed > >
