Archive - Oct 5, 2008

Date

Officials Refuse to Provide Details on Secret Previous Bailout By JUSTIN ROOD

Top government officials are refusing to provide details on a secretive deal it made to manage billions in assets from an earlier bailout.

Sen. Charles Grassley, R-Iowa, has been pressing top officials for months to provide details on a deal the Federal Reserve made for a private firm to manage $30 billion in financial assets from the collapsed investment bank Bear Stearns, as part of an arrangement to facilitate J.P. Morgan Chase's purchase of the bank in March.