12.01.2010

Fed Names Recipients of $3.3 Trillion in Crisis Aid

"Bank of America Corp. and Wells Fargo & Co. were among the biggest borrowers from one program, the Term Auction Facility, with as much as $45 billion apiece. Some aid went to U.S. units of foreign institutions, including Switzerland’s UBS AG, France’s Societe Generale and Germany’s Dresdner Bank AG. The Fed posted the data on its website to comply with a provision in July’s Dodd-Frank law overhauling financial regulation."
Click here to read the rest...
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Note:  This is interesting - Wells Fargo and BofA get to borrow money - while they foreclose on properties the rest of us cannot come up with the payment for in these tough times.  We are being robbed -

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