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November 29, 2011

Federal Reserve Secretly Committed $7 Trillion to Save Nation’s Largest Banks 
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The Bloomberg news agency has revealed new details about how the Federal
Reserve secretly committed more than $7 trillion to save the nation's
largest banks in 2008 and 2009. According to a new report, the banks
made an estimated $13 billion in income because the government was
loaning money at below-market rates. Recipients of the secret loans
included Goldman Sachs, JPMorgan, Bank of America, Citigroup and Morgan
Stanley.



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