“The $108 million BlackRock contract to trade Maiden Lane was large enough that, had it been designated sole source, it would have to have been approved by the New York Fed’s board of directors…which includes Mr. Jamie Dimon. Wouldn’t it have been embarrassing to have to disclose that Mr. Dimon voted to approve a dubious no-bid contract to BlackRock to trade the very portfolio of Bear Stearns assets that his firm, JP Morgan, was first in line to absorb any losses? Better for the New York Fed to throw away the file and lie to the GAO (allegedly).”
http://www.economicpolicyjournal.com/2012/10/analyzing-jamie-dimons-bear-stearns.html
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