Controversy
On October 14, 2008 Ivan Seidenberg stated as reported in the WSJ: "Verizon CEO No Bailout for Me, Thanks," Seidenberg clearly indicated that Verizon was in great shape and would not take any TARP money. Despite subsequent allegations and reports to the contrary, Verizon did not take TARP money. The Federal Reserve Bank bought $1.5 billion of Verizon's short term (90 days) commercial paper. The funds for the purchase of the short term IOUs, from several corporations, did not come from the TARP program.
Read more about this topic: Ivan Seidenberg
Famous quotes containing the word controversy:
“And therefore, as when there is a controversy in an account, the parties must by their own accord, set up for right Reason, the Reason of some Arbitrator, or Judge, to whose sentence, they will both stand, or their controversy must either come to blows, or be undecided, for want of a right Reason constituted by Nature; so is it also in all debates of what kind soever.”
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