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Fed Feared 'Contagion' If Bear Failed

Bernanke and crew felt they had to act, minutes show

By Kevin Spak, Newser Staff

Posted Jun 27, 2008 1:30 PM CDT

(Newser) – If the Fed hadn't taken the unprecedented step of helping bail out Bear Stearns, a sweeping "contagion" would have doomed the markets, its members say. In newly released minutes from its March 16 meeting, the Fed reasons that the “prominent position of Bear... Read full story »

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Ben Bernanke • Federal Reserve • Bear Stearns • financial markets • financial crisis

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Fed Feared 'Contagion' If Bear Failed

Bernanke and crew felt they had to act, minutes show

Ben Bernanke • Federal Reserve • Bear Stearns • financial markets • financial crisis

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