Wednesday, Sep 17, 2008
Lehman still costing taxpayers
Reuters: UPDATE 1-NY Fed repaid JPMorgan for $87 bln in Lehman financing
"The Federal Reserve Bank of New York took the unusual step of providing some $87 billion in financing to units of bankrupt Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research, Stock Buzz) to prevent disruption in trading markets as customers flee, according to a filing on Tuesday." Who knows what would have happened without this money. Forget tin hats you would need a bomb shelter!
Posted by mountain goat @ 12:29 PM (165 views) Add Comment
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