Stocks were in slumping mood this morning but were cheered by the move by the Swiss Central Bank to throw troubled behemoth Credit Suisse a lifeline.

And then the Banking Boys, herded by the Treasury and the Fed, offered to cough up a few billion ins loans to First Republic Bank, which was swirling down the drain.

Are these loans or deposits? I hear they are deposits.  

If deposits, will the FDIC backstop them against loss as well? I hear yes.LOL

Sheila Bair, the former head of the FDIC, was barfing over all this ad hoc favoring of big tech billionaires after the bell.

Gold and silver churned around.

The VIX fell sharply on the bailouts, which we are assured are just transitory.

The Dollar fell a bit. 

And Treasury Secretary Janet Yellen and money meister Jay Powell basked in the glow of another job well done.

After the bell, the Fed released figures showing that the Discount Window and the new Special Facility is doing a bang up, record business lending out funds to troubled Banks.  

Quad option expiration tomorrow.

Have a pleasant evening.

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