by Bill McBride on 12/21/2007 03:20:00 PM
Friday, December 21, 2007
From the WSJ: Banks to Abandon Super-SIV Plan
Lack of interest has led the banks to drop the plan -- known as the Master-Enhanced Liquidity Conduit, or M-LEC. ...This just makes official (well, on Monday) what was obvious from the beginning.
The banks ... are likely to issue a statement by Monday saying they no longer intend to go forward with the fund, according to the people familiar with the matter.
Posted by Bill McBride on 12/21/2007 03:20:00 PM