Entries tagged "U.S. Treasury"
Not only is the U.S. embroiled in its own financial regulation brouhaha, but now Treasury officials are joining their U.K. counterparts in taking on the EU.
There's certainly nothing mysterious behind The New York Times' $138 billion mystery. In a Tuesday DealBook column, the Gray Lady's Andrew Ross Sorkin wonders why the Federal Reserve Bank of New York lent a Lehman Brothers Holdings Inc. subsidiary about $87 billion just hours after allowing the bank to fail. In fact, says Sorkin, in the two days immediately following the Sept. 15 bankruptcy filing, the Fed lent Lehman a total of $138 billion."In other words, government officials who refused to risk taxpayers' money on Lehman before it collapsed did just that after it collapsed," Sorkin noted....
Global stock markets kept surging on Tuesday, as the U.S. confirmed it will spend about $250 billion buying stakes in banks....
Robert Steel, who was most recently under secretary for domestic finance at the U.S. Department of the Treasury, is now Wachovia Corp.'s CEO, president and a member of the board. Lanty Smith, who led the search committee and served as interim head of the Charlotte, N.C., bank, will continue as chairman....
