Wall Street Manna

An irreverent look at Wall Street

Wednesday, December 5, 2007

Orange County SIV's?

Blackrock was paid $125,000 to come up with a plan to stop the run on the Florida pooled money account. With this advice, they decided to charge fees on withdrawing money.

They finally made a call to BofA, to see if they would use the securities the fund held as collateral. If you think this is a problem, wait until you see California's plan!

Where's Robert Citron and his turquoise ties?

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