What did the Federal Reserve Bank of New York do for LTCM?
Ignored it
Brokered a bailout
Invested more
Closed it down
Answer
Brokered a bailout: The Federal Reserve Bank of New York facilitated a rescue package for Long-Term Capital Management (LTCM), a hedge fund facing imminent collapse. The bailout involved a consortium of banks purchasing LTCM's assets at a discounted price, preventing a wider financial crisis.
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