Friday, Nov 27th

Last update06:44:36 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?


Most Recent Related Stories...

Another big corporation is flagrantly dodging tax. This must be outlawed

Another corporation evades taxesNo invention of modern capitalism so enrages the public as does the tax haven. When giant...

NY's Gov. Andrew Cuomo raising minimum wage for state employees

NY Gov. CuomoNew York Gov. Andrew Cuomo on Tuesday announced plans to give all state workers a minimum...

Inside the Money Laundering Scheme That Citi Overlooked for Years

Citi money laundering schemeWhen Antonio Peña Arguelles opened an account in 2005 at Citigroup’s Banamex USA, the know-your-customer documents...

Top 100 US CEOs sitting on retirement nest egg of nearly $5bn

CE0 retirement in the billionsForget retirement worries: once a fat cat, always a fat cat. The top 100 chief executive...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!