r/todayilearned•
[deleted]

TIL that on top of the TARP bailout, the Federal Reserve secretly lent investment banks an additional 7.77 trillion dollars, with almost no strings attached. This would have remained a secret had Bloomberg LP not won a case demanding the Fed reveal lending details.

bloomberg.com/news/2011-11-28/secret-fed-loan...
bloomberg.com

Posted Dec 2, 2011, 12:54 AM UTC

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