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Article: Billions lost in hours Lehman response failed to account for commercial paper.(Business)
- Article from:
- Daily Herald (Arlington Heights, IL)
- Article date:
- September 16, 2009
- Author:
CopyrightCOPYRIGHT 2009 Paddock Publications. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Second of four parts By Bob Ivry, Mark Pittman and Christine Harper Bloomberg News
Treasury Secretary Henry M. Paulson Jr. left his suite at ManhattanAEs Waldorf-Astoria Hotel last Sept. 15 after a sleepless night, feeling heAEd done all he could to minimize the damage from that morningAEs collapse of Lehman Brothers Holdings Inc., aides said.
At meetings concluded the previous evening at the Federal Reserve Bank of New York, Paulson and executives of the worldAEs largest financial institutions worked to head off two threats they anticipated in the wake of the biggest bankruptcy in U.S. history. The bankers spent hours trying to unwind ...