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Rating:US Gov't Chooses Two Big Names to Help With Bailout Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 14, 2008

US Gov't Chooses Two Big Names to Help With Bailout Fund

by: Erin Kello

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.

Reuters 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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