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BlackRock, Pimco Bid to Manage Rescue Plan

Stock quotes in this article: BLK , AZ , STT , BK  

BlackRock(BLK Quote) and Pimco submitted proposals to manage troubled mortgage- backed securities in the biggest portion of the Treasury's $700 billion financial-rescue plan, Bloomberg reports, citing people familiar with the matter.

Pimco is a subsidiary of German insurer Allianz(AZ Quote).

State Street (STT Quote)and Bank of New York Mellon (BK Quote) bid to handle record-keeping and custody services for the Treasury, Bloomberg reports. The deadline for proposals was Wednesday. ...

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