Banking, finance, and taxes
Sovereign Funds Run And Hide (C)(JPM)(BSC)(MER)(LEH)(WM)
Published:
Just a few months ago, sovereign funds could not get enough stock and debt in financial firms like Citigroup (NYSE: C) and Merrill Lynch (NYSE: MER).
When the time came to bail-out Bear Stearns (NYSE: BSC) or put money up to finance a buy-out deal for the brokerage by JP Morgan (NYSE: JPM), the sovereigns were out of sight.
Several other financial companies may need capital quickly. At the top of that list is Lehman Brothers (NYSE: LEH). Washington Mutual (NYSE: WM) may need assistance, too.
It no longer matters if sovereign funds have a political agenda for their investments. They have left the building. The Fed is, in effect, alone. It political agenda is to save the economy starting with Wall St.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
