3 Major Banks Start Fund To Shore Up Credit Market

Citigroup, Bank of America and JPMorgan Chase are joining forces to create a fund that will buy the debt from their mortgage-backed securities. The new group, assembled at the urging of the benevolent and mysterious Dr. Treasury Department, call themselves The Super Bank Friends. Their undying quest: fighting together to prevent the credit market from collapsing and creating a rift in the space-time continuum that would transport America back to 1929.

Banks to Start Fund to Protect Credit Market [NYT]

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  1. MENDOZA!!!!! says:

    I still think Green Lantern could beat Citigroup and JP Morgan. BoA, not so sure.

  2. loueloui says:

    Ha ha, well done.

    Wonder twin powers activate! Form of -financial ruin.

  3. SoCalGNX says:

    Friends? With B of A in the mix??? Huh??

  4. ColdNorth says:

    Wow. Now that’s what I call a “bank panic.”

  5. Landru says:

    Private bailouts aren’t unheard of. In a 1907 crash, J.P. Morgan and his Wall Street cronies put together a rescue package designed to prop up other trust institutions. Of course, they all ended up much richer afterwards.

  6. n/a says:

    This is great, now who would be the legion of doom?