How was public money used to prop up financial institutions?

February 13, 2010 | By | 1 Reply More

The quick answer is that we don’t know.  This is unbelievable, given that public tax money was used.   As reported by the NYT, lawsuits brought by Bloomberg and FOX, as well as an Congressional effort to audit the Federal Reserve seek answers to these questions:

Who got money from the Fed? How much did they get? In exchange for what collateral? And under what terms?

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Category: Economy, Politics

About the Author ()

Erich Vieth is an attorney focusing on consumer law litigation and appellate practice. He is also a working musician and a writer, having founded Dangerous Intersection in 2006. Erich lives in the Shaw Neighborhood of St. Louis, Missouri, where he lives half-time with his two extraordinary daughters.

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  1. My guesses are:

    > Who got money from the Fed?

    The lot

    > How much did they get?

    A lot

    > In exchange for what collateral?

    Not a lot

    > And under what terms?

    Maybe I'll scratch your back sometime. Maybe not.

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