TV News LIES

Monday, Dec 11th

Last update05:20:13 AM GMT

You are here News Economy Fed repaid JPMorgan $87 billion for Lehman financing

Fed repaid JPMorgan $87 billion for Lehman financing

E-mail Print PDF

While the government had pledged not to fund a rescue of Lehman, the disclosure on Tuesday showed authorities that were taking other financial steps to prevent markets from descending into chaos.

JPMorgan Chase & Co advanced $87 billion to the units on Monday to help clear and facilitate securities transactions with customers and clients of Lehman "to avoid disruption of financial markets," according to documents filed in the U.S. Bankruptcy Court for the Southern District of New York.

Lehman and the New York Fed had requested the advance, known as a "commencement date advance" and the New York Fed repaid it, according to filings.

In effect, the New York Fed lent the funds to the units.

A representative for the New York Fed declined to comment.

TVNL Comment: Any questions about the central banking conspiracy?

More...


Most Recent Related Stories...


U.S. trade gap soars as imports from China hit record high

trae deficit soars The U.S. trade deficit jumped 8.6 percent in October as imports from China and other suppliers...

Richest 1% now owns half the world's wealth

Richest 1% own half the world's wealth The wealthiest 1% of the world's population now owns more than half of the world's wealth,...

The GOP tax plan could negatively affect your Social Security benefits

Tax reform? No, tax CUTS for the wealthy!Without a guaranteed monthly stipend, the number of seniors living below the federal poverty level could...

After a Tax Crackdown, Apple Found a New Shelter for Its Profits

Apple found new island to shelter its billionsIt was May 2013, and Mr. Cook, the chief executive of Apple, appeared before a United...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!