WASHINGTON (AP) -- The Federal Reserve Bank of New York held an emergency meeting Friday night with top Washington policymakers and major financial institutions to discuss the future of Lehman Brothers.
The meeting, which was attended by Treasury Secretary Henry Paulson, was held at the offices of New York Federal Reserve Bank president Timothy Geithner. The meeting was confirmed by Fed spokeswoman Michelle Smith.
Smith refused to disclose what financial institutions participated in the meeting or whether the group had reached any conclusion over how to resolve the crisis facing Lehman Brothers.
http://hosted.ap.org/dynamic/stories/L/LEHMAN_MEETING?SITE=OHTOL&SECTION...
Remember the last big government bailout of financial institutions? Can we all say it together...the savings and loan crisis of the 1980s -- after 8 years of Reaganomics and less government regulation of the financial industry.
Now, after 7 years of Reagan prodigee, Bush #43, to quote Reagan, "Here we go again!" Billions for a senseless war! Billions for corporate welfare! The modern GOP, neo-Con, mantra is: Borrow, spend, and send (the bill to future generations). Borrow, spend, and send!