Waxman Wants Info On Fed's BlackRock Deal

Law360, New York (April 8, 2008, 12:00 AM EDT) -- A U.S. lawmaker has posed questions about the selection of BlackRock Financial Management to manage the government's $29 billion contribution to the bailout of Bear Stearns Cos.

In a letter sent to Federal Reserve President and CEO Timothy F. Geithner on Friday, Rep. Henry Waxman (D-Calif.), the chairman of the Committee on Oversight and Government Reform, asked for “more information about the selection of BlackRock Financial Management Inc. to manage billions in assets that now appear to belong to the federal taxpayer.”

The congressman's concerns center...
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