Seeing no options left, the Federal Reserve Bank of New York organized a bailout of $3.625 billion by the major creditors to avoid a wider collapse in the financial markets. The principal negotiator for LTCM was general counsel James G. Rickards.Kathryn M. Welling, "Threat Finance: Capital Markets Risk Complex and Supercritical, Says Jim Rickards" welling@weeden (February 25, 2010). Retrieved May 13, 2011 The contributions from the various institutions were as follows:Wall Street Journal, 25 September 1998 $300 million: Bankers Trust, Barclays, Chase, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, Merrill Lynch, J.P.Morgan, Morgan Stanley, Salomon Smith Barney, UBS $125 million: Société Générale $100 million: Paribas and Lehman Brothers Bear Stearns and Crédit Agricolehttp://eml.berkeley.edu/~webfac/craine/e137_f03/137lessons.pdf declined to participate.
Seeing no options left, the Federal Reserve Bank of New York organized a bailout of $3.625 billion by the major creditors to avoid a wider collapse in the financial markets. The principal negotiator for LTCM was general counsel James G. Rickards.Kathryn M. Welling, "Threat Finance: Capital Markets Risk Complex and Supercritical, Says Jim Rickards" welling@weeden (February 25, 2010). Retrieved May 13, 2011 The contributions from the various institutions were as follows:Wall Street Journal, 25 September 1998 $300 million: Bankers Trust, Barclays, Chase, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, Merrill Lynch J.P.Morgan, Morgan Stanley, Salomon Smith Barney, UBS $125 million: Société Générale $100 million: Paribas and Lehman Brothers Bear Stearns and Crédit Agricolehttp://eml.berkeley.edu/~webfac/craine/e137_f03/137lessons.pdf declined to participate.