How was public money used to prop up financial institutions?

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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Erich Vieth

Erich Vieth is an attorney focusing on civil rights (including First Amendment), consumer law litigation and appellate practice. At this website often writes about censorship, corporate news media corruption and cognitive science. He is also a working musician, artist and a writer, having founded Dangerous Intersection in 2006. Erich lives in St. Louis, Missouri with his two daughters.

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  1. Avatar of Planeten Paultje
    Planeten Paultje

    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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