"Banks Said to Agree on Credit Backup Fund" Says NY Times

Nov 11 07

"Banks Said to Agree on Credit Backup Fund" Writes the Sunday New York Times. "Officials from Bank of America, Citigroup and JPMorgan Chase reached agreement late Friday, settling on a more simplified structure than had been proposed," said the article. "`Bank participants, money market investors and even some managers of the troubled investment vehicles that would benefit most had considered previous versions of the fund to be infeasible, casting doubt over a final plan," noted the Times.

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