GAO's July 2011 audit of the Federal Reserve's emergency programs. It reports BlackRock's fees for managing the three Maiden Lane companies: $107,648,136 for Maiden Lane LLC, $24,102,579 for Maiden Lane II and $50,031,879 for Maiden Lane III, about $181.8 million in all, and classifies all three selections as noncompetitive. It classifies TALF collateral monitoring as competitive and the Citigroup valuation contract ($12.7 million) as noncompetitive.
$181.8 million
Printed p. 54; tables 15-17, pp. 174, 177, 184
GAO's July 2011 audit of the Federal Reserve's emergency programs. It reports BlackRock's fees for managing the three Maiden Lane companies: $107,648,136 for Maiden Lane LLC, $24,102,579 for Maiden Lane II and $50,031,879 for Maiden Lane III, about $181.8 million in all, and classifies all three selections as noncompetitive. It classifies TALF collateral monitoring as competitive and the Citigroup valuation contract ($12.7 million) as noncompetitive. GAO notes BlackRock had already evaluated AIG's assets before it was hired, and describes the ethical walls and monitoring the New York Fed required.