As Josh mentioned earlier in the week, the Fed has brought in — with next to no transparency — four firms to dispose of the $500 billion of toxic mortgage-backed securities the Fed has purchased as part of one of its bailout programs (separate and apart from the Treasury Department’s TARP program).
So how much are these guys making under their contracts with the Fed? We called around and all of them declined to say.
We’re still waiting to hear back from the Fed itself.
David Kurtz is Managing Editor and Washington Bureau Chief of Talking Points Memo where he oversees the news operations of TPM and its sister sites.