Tuesday, October 14, 2008
Clash of the Financial Titans
Looking to stabilize the economy and drum-up confidence, the treasury will be meeting with the big banks today to discuss the direct investment of $125 billion from the gov't in nine of the biggest U.S. banks. Led by Secretary Henry Paulson and Fed Chairman Ben Bernanke, the meeting - to be held at 3PM this afternoon - includes the likes of Ken Lewis, chief executive of BOA, Jamie Dimon, CEO of JPMorgan Chase, Vikram Pandit, the CEO of Citigroup, Lloyd Blankfein, CEO of Goldman Sachs, and Robert Kelly, CEO of New York Mellon. Hmmm...how many bank CEO's does it take to fix a financial crisis?