Friday, September 12, 2008

Paulson: "Adamant" No Government Funds For Lehman

Treasury Secretary Henry Paulson is "adamant" that no government money be used in any deal that resolves the crisis at Wall Street investment bank Lehman Brothers, a source familiar with his thinking said on Friday, accordiing to Reuters.

"There are two things that make this different from Bear Stearns. The market's been aware of the situation for a long time and has had time to prepare. Second, the Primary Dealer Credit Facility was created by the Fed to allow time for an orderly process," the source told Reuters.

"Given these things, (Paulson) is adamant that there will not be government money used in the resolution of the situation," the source added.

NB: Sounds like Paulson is the source.

-Robert Wenzel

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