Tuesday, April 01, 2008

Treasury Agrees to Absorb any Losses to the Fed from Bear Stearns

by Bill McBride on 4/01/2008 12:38:00 PM

Video from CNBC (hat tip idoc)

CNBC's Steve Liesman reports on a letter from Treasury Secretary Paulson to New York Fed President Tim Geithner. In the letter, Treasury agrees that the Fed can bill Treasury for any losses from the Bear Stearns deal.