by the way, i was supposed to report on the core of this meeting
but was overshadowed by that pink lady.
mojor Q is about why Fed, Sec knowed Bear was getting big trouble in that Thursday and Friday, but did not lend $ to help its liquidity problem? but NY fed chair, steel, said coz too many bear's clients were withdrawing from bear, and more cause the huge dynamic of bear's financial condition, and this made fed difficult to make any immediate decision to lend. even though fed did have rule to allow the bank to have short term loan, but in that situation, it was just too bad to give them the loan.
my personal point: when you are in trouble, dun ever think anyone can help you, especially on that point! but be sure that, after u dead, all of them will be around to share every part of U.