The Real Cost of the Financial Crisis Bailout
In an extraordinary piece of investigative journalism, Bloomberg Markets Magazine describes the real financial bailout action that took place when banks tapped into the Federal Reserve’s Term Auction Facility for additional borrowing at below market rates. Select highlights include: While the TARP program had a big $700 billion price tag, the Federal Reserve committed as much as $7.77 trillion to banks as of March 2009. These additional trillions were provided in almost complete secrecy...
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