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The Rescue Squad
The Wall Street the world knew seven months ago exists no more. Sparked by the bursting of the housing bubble last year, the seizing up of the credit markets has reshaped the financial landscape, felling decades-old investment banks and spurring the government into some of its most sweeping market interventions since the era of Franklin D. Roosevelt.
Some of these companies, like Bear Stearns and the American International Group, were salvaged, though at great cost. Others, like Lehman Brothers, were not.
Among these rescuers are some of the biggest names in finance, including chief executives like James Dimon of JPMorgan Chase. But overshadowing them all is the increasingly powerful trio of Henry M. Paulson Jr., the Treasury secretary; Ben S. Bernanke, the Federal Reserve chairman; and Timothy F. Geithner, the president of the Federal Reserve Bank of New York.
We’ve linked the players to the deals they’ve worked on, illustrating the increasingly more complex web of financial rescue workers. Each deal is denoted with a different color.
With little end to the credit crisis in sight, the list of bailouts may grow larger.
Check out the diagram. Worth a look. (Don't know how to paste it in directly to iTulipers)
http://dealbook.blogs.nytimes.com/20...20squad&st=cse
The Wall Street the world knew seven months ago exists no more. Sparked by the bursting of the housing bubble last year, the seizing up of the credit markets has reshaped the financial landscape, felling decades-old investment banks and spurring the government into some of its most sweeping market interventions since the era of Franklin D. Roosevelt.
Some of these companies, like Bear Stearns and the American International Group, were salvaged, though at great cost. Others, like Lehman Brothers, were not.
Among these rescuers are some of the biggest names in finance, including chief executives like James Dimon of JPMorgan Chase. But overshadowing them all is the increasingly powerful trio of Henry M. Paulson Jr., the Treasury secretary; Ben S. Bernanke, the Federal Reserve chairman; and Timothy F. Geithner, the president of the Federal Reserve Bank of New York.
We’ve linked the players to the deals they’ve worked on, illustrating the increasingly more complex web of financial rescue workers. Each deal is denoted with a different color.
With little end to the credit crisis in sight, the list of bailouts may grow larger.
Check out the diagram. Worth a look. (Don't know how to paste it in directly to iTulipers)
http://dealbook.blogs.nytimes.com/20...20squad&st=cse
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