Rick's Blog

Banks loaned $1.2 Trillion secretly in 2008 by Fed (pre-Obama)

Bloomberg Markets magazine reports in its January issue that the Federal Reserve gave U.S. banks secret loans that netted $13 billion of undisclosed income. The $1.2 trillion bailout in December of 2008—the largest in U.S. history—has been kept a secret by the Fed and big banks. Read more.

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