The New York Federal Reserve Bank general counsel Thomas Baxter helped engineer the bailouts that kept the bottom from falling out of the economy. Sue Reisinger reports
Earlier this year a riled congressional panel accused the Federal Reserve Bank of New York of hiding details of deals and giving backdoor bailouts to friends during the recent financial crisis. To reassure the lawmakers and to explain the intricate and sometimes frantic manoeuvres that helped stave off a collapse of the US economic system, the New York Fed sent in its face of reason and integrity: general counsel Thomas Baxter.
