Superfund faces hurdles in SIV bailout

10/24/2007 | Wall Street Journal, The

Citigroup, Bank of America Corp. and JPMorgan Chase & Co. -- the three banks that formed a superfund to bail out troubled structured investment vehicles -- are facing problems of their own as they try to push the bailout forward. The SIVs need $100 billion to buy back debt coming due within the next six to nine months, and the three banks have thus far received a cool reception in their pursuit of other banks to join the effort.

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