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.
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Comments:
Ha ha, well done.
Wonder twin powers activate! Form of -financial ruin.
Friends? With B of A in the mix??? Huh??
Wow. Now that's what I call a "bank panic."
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.
This is great, now who would be the legion of doom?
I still think Green Lantern could beat Citigroup and JP Morgan. BoA, not so sure.