Fed executive picked for position with US Treasury

In a widely expected move, Peter Fisher, the executive vice president in charge of markets for the Federal Reserve Bank of New York, has been appointed as the Domestic Finance Official at the US Treasury. Associates describe the red-haired Mr. Fisher as an activist willing to use the government's powers to pre-empt or snuff out financial trouble. In 1998, he engineered the controversial Fed-brokered bailout of the Long-Term Capital Management hedge fund, persuading sceptical regulators that t

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