Asking Judge Manhattan Chief U.S. District Judge Loretta Preska to delay her order to release details of those receiving loans, the Federal Reserve Board of Governors was joined by The Clearing House Association.
"The Clearing House Association LLC, an industry-owned group in New York that processes payments between banks, filed a declaration that accompanied the request for a stay."-------------------
Who are they? Bloomberg explains. "Members of the Clearing House are ABN Amro Holding NV, Bank of America Corp., Bank of New York Mellon Corp., Citigroup Inc.Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase Inc., UBS AG, U.S. Bancorp and Wells Fargo & Co."
So what is a a Swiss conglomerate, a Dutch bank along with a Royal Bank of Scotland consortium, a Hong Kong/Shanghai banking concern formed in the UK and Wales and a German bank doing on the Clearing House? And why do almost all of them have troubled asset problems?
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