Two companies with fund complexes have been chosen to help out the government with its enormous bailout effort. The benefit of the contracts will mainly be an increase in both companies' prestige, which could be a plus for future ad campaigns.
reports that Pimco
has been chosen to manage the asset manager for the Federal Reserve's Commercial Paper Funding Facility. The pub
also reports that the Treasury tapped the Bank of New York Mellon
as custodian for the Troubled Asset Relief Program.
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