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$7.7 Trillion

By: CTJ in POPE | Recommend this post (3)
Tue, 29 Nov 11 7:41 AM | 45 view(s)
Boardmark this board | (The) Pope's for real stock market report

Msg. 47413 of 65535
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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..Â

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.Â

Notably, while the banks were taking these huge loans, they maintained that they were fine

http://www.businessinsider.com/bank-bailouts-2011-11-27

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