TV News LIES

Sunday, May 28th

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...


Household debt tops 2008 peak ahead of financial crisis

Household debt in US at pre crash levelU.S. household debt has topped the record level reached in 2008, a milestone for the recovery...

Commerce secretary warns Canada against 'retaliatory action' on lumber tariff

Commerce Sec. Ross warns Canda about tariffSecretary of Commerce Wilbur Ross on Saturday doubled down on the imposition of tariffs on Canadian...

In blow to Trump, GE backs NAFTA and voices support for Mexico

GE backs NAFTAGeneral Electric (GE.N) on Friday praised Mexico as a big part of its future and said...

Trump's first tariffs: Canada's lumber imports

US puts tariffs on Canadian lumberPresident Donald Trump imposed the first tariffs of his administration, up to 24.1 percent aimed at...
 
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!