The Mother of All Bailout Funds (BusinessWeek)

Story date: 2007-10-18 03:23:52
Added on: 2007-10-19 06:00:37

Prodded by Treasury Secretary Henry Paulson, the top three U.S. banks—Citigroup ( C ), Bank of America ( BAC ), and JPMorgan Chase ( JPM )—on Oct. 15 set up an $80 billion entity that will serve as a buyer of last resort for some 30 "structured investment vehicles," or SIVs.


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