Fed European Swap Deal A Gambit To Head Off A Major Bank Failure?

`` The Fed also cut the interest rate charged for use of the swap facility from 1% to 1/2%. This really underscores the severity and immediacy of the problem. Interestingly, a friend from NYC called me this morning and told me that Deutsche Bank is trying to sell its asset management division. This is a cash cow asset and it tells me that, not only is DB desperate to raise liquidity, but it has to resort to unloading good, core assets because there is no bid in the market for its crappy assets''