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Flickr / Thomas Hawk

N.Y. Fed Gave Big Banks Secret Emergency Loans in ’08

In a revelation that should surprise no one, lending records of the Federal Reserve Bank of New York released by a March court order show that the Fed made cut-rate emergency loans of up to $30 billion each to major banks in 2008 without informing Congress, shareholders or the American public. (more)

Posted on May 26, 2011 READ MORE


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