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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.