Bearly afloat

The Fed supplies the Bear necessities

SO, PERHAPS you've heard that there was something out of the ordinary going on on Wall Street today, involving the vanishment of half of a major brokerage firm's value and something that looks an awful like a bailout. Just two days after the Federal Reserve's unveiling of the Term Securities Lending Facility gave markets a 400 point boost, the near unravelling of Bear Stearns has grabbed ahold of the financial sector and pulled down stocks all across the board.But what does it all mean? Luckily, the internet has folks like Felix Salmon around to explain it to us. A sample:Bear Stearns is a major broker-dealer; billions of dollars of obligations flow through it every day. If suddenly that flow was

[visit website]