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Bill would direct feds to buy Lehman bonds

Original post made on Jan 18, 2009

Rep. Anna Eshoo, D-Menlo Park, and Rep. Jackie Speier, D-San Mateo, introduced legislation in Congress Friday that would direct the secretary of the treasury to purchase Lehman Brothers bonds held by state and local governments and that are now deemed nearly worthless.

Read the full story here Web Link posted Friday, January 16, 2009, 5:22 PM

Comments (2)

Posted by Majorian, a resident of another community
on Jan 18, 2009 at 12:18 pm

How do you choose certain bondholders over others. What about individuals who purchased these bonds for their retirement accounts? what about schoold districts in Norway who purchased these bonds? Who bails them out. There was no priority in these bonds and all investors should be treated the same

Posted by Ole, a resident of Menlo Park: Sharon Heights
on Jan 19, 2009 at 4:27 pm

I'd think the Norwegian government should be the one to bail out any of its school districts that invested in Lehman. U.S. bailout funds are restricted to domestic relief.

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