Banking, finance, and taxes
Big Banks Work On Slush Fund To Save Smaller Firms
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Several of the world’s largest banks on working on assembling a $50 billion fund to offer capital to weaker financial companies as firms like Lehman (LEH), Merrill Lynch (MER), and Washington Mutual (WM) face liquidation or sale.
This fund would be added to an increase in capital from the Fed. According to Reuters, "officials at the U.S. Treasury and the Federal Reserve are expected to say they are prepared to be more generous in the Fed’s emergency lending program for commercial and investment banks."
Douglas A. McIntyre
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