POSTCRISIS BANK STOCKS

摘要

The good news is that the worst of the liquidity crisis seems to be over. After a slow start the Federal Reserve Board under Chairman Ben S. Bernanke has done an outstanding job containing the panic in the financial system and dispelling the fear of a total meltdown. The Fed's most controversial move, its guarantee of $29 billion of Bear Stearns assets as JPMorgan took over that company's business, prevented a possible freeze in the derivatives market that could have resulted in a brokerage and bank holiday like that of 1933.