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March 19, 2008
Belly up to the bar: Investment banks are using the new facility
From Reuters:
Goldman Sachs plans to test the program sometime this week, a spokesman said. Morgan Stanley Chief Financial Officer Colm Kelleher said his bank has already tested the program, and a spokeswoman for Lehman said the investment bank has also done so.
The Wall Street Journal reports that there still might be some stigma attached to borrowing from the Fed, but that the banks "viewed the new funding source positively".
Posted by William Polley at March 19, 2008 01:26 PM
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