➜
“While most people know about Congress’ $700 billion TARP program, the Fed’s secret emergency loans to banks during the financial crisis remains shrouded in mystery.. A new Bloomberg Markets report shines more light on this lending. After adding up all the guarantees and loans, the Fed committed $7.77 trillion to rescuing the financial system as of March 2009, the report said. Notably, while the banks were taking these huge loans, they maintained that they were fine”
Tags: economy money government
