Published — October 14, 2008 Updated — May 19, 2014 at 12:19 pm ET

Lee Meyerson, lawyer for the big banks, to the financial rescue


A lawyer who has represented some of the nation’s largest banks — and helped them in their bids to grow even larger — has been tapped to advise the Treasury Department in its unprecedented effort to nationalize some of those same institutions to shore up troubled financial markets.

Lee Meyerson, one of the nation’s top banking industry merger and acquisition lawyers, will be leading a team of lawyers from the New York firm Simpson Thacher & Bartlett in representing the Treasury Department, the firm’s website reports.

Among the numerous big banking deals on Meyerson’s resume: representing J.P. Morgan Chase in its $58 billion merger with Bank One in 2004; Mellon Financial in its $16.8 billion combination with The Bank of New York in 2007; and Wachovia in its $14.7 billion merger with First Union in 2001 (while fending off a hostile takeover by Suntrust Banks).

Now, J.P. Morgan Chase, Bank of New York Mellon, and Wells Fargo (which is moving to purchase Wachovia) are among the nine institutions in which the Treasury Department is poised to invest $250 billion. (The others are Bank of America, Merrill Lynch, Citigroup, Goldman Sachs, Morgan Stanley, and State Street.)

Treasury Secretary Henry Paulson has made clear the plan to purchase equity in banks with taxpayer money will involve complex lawyering. Treasury is “working to develop a standardized program that is open to a broad array of financial institutions,” Paulson said, adding he hoped to design it to encourage the raising of new private capital to complement the federal cash.

Meyerson, 52, who has been with Simpson Thacher for his entire career, certainly has experience in dealing with financial industry emergencies. He represented Washington Mutual earlier this year in its effort to climb out of a deep subprime mortgage hole with a $7.2 billion capital infusion from the private equity firm TPG and other investors. Alas, the lifeline wasn’t long enough, and WaMu, the nation’s largest savings and loan, was placed into government receivership and then sold to J.P. Morgan last month.

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install itunes on windows 7Bob FrankstonLinda GordonET69Jello Beyonce Recent comment authors
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sam fetters
sam fetters

What do AT&T, Verizon and Crown Castle International Corp have in common? The largest institutional shareholders of each includes firms like: Vanguard, BlackRock, State Street (the “Big Three”), Invesco, Fidelity (FMR), JP Morgan, Wellington Management, Geode, T Rowe Price, Bank of America, and other of the largest money-management and investment firms, whom operate collaboratively (even comprising the largest shareholders of each other), forming virtual monopolies amongst the largest “competing” corporations, in most every single industry, via large share holdings. (source = These are the same firms whom also largely own the third largest telecom, T-Mobile. The own the largest… Read more »

Jello Beyonce
Jello Beyonce

I’ve a theory that the supposed “Trade Wars” and “sanctions” and political/military strife going on between the U.S., China, Russia, etc. are merely distractions, serving to divert attention away from the growing authoritarianism and Oligarchic control spreading across the globe. “Nationalism” is being used as a propagandist covert means of continued increasing Globalism. As this article states: “A Russian woman stood up to speak at one of these public meetings, and she said that when she lived in Russia, the government slam dunked her and she had no say,” King said. “Now she lives in the United States of America,… Read more »


Marx was right about capitalism . Capital gets more and more concentrated in fewer and fewer hands. There is no way out of this greed. We need socialism!

Linda Gordon
Linda Gordon

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Bob Frankston

The real issue with 5G is that it’s an attempt to roll back the Internet and return to the telecom of the 1970s when the phone company controlled all.

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