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Politics : Formerly About Advanced Micro Devices
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To: michael97123 who wrote (438082)12/4/2008 2:58:35 PM
From: rich evans1 Recommendation  Read Replies (2) of 1575034
 
Yes, the Lehman Bankruptcy was unfortunate . But at the time, the Tarp Legislation had not become law so the Treasury had no authority except to try and find a merger. The Fed had powers under 13(3)-emergency and exigent circumstances and they tried to find a Bear Stearns solution. But the foreign bank they had lined up was prevented from going forward by the ECB and their country central bank, thus no deal and BR resulted.
Rich
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