Tuesday, September 23, 2008

Bush bailout plans to outsource effort to financial firms

Paulson seems to be leaving open the possibility that the same firms that are being bailed out could be hired to run the bailout. Institutions receiving a monumental giveaway of taxpayer money could turn around and earn more by acting as the government’s brokers.A leading contender is BlackRock a firm involved in the Bear Stearns bailout.

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