Who’s Getting Trillions in Loans? It’s a Secret

Tuesday, December 16, 2008

The Federal Reserve has refused a request by Bloomberg News to reveal who has received more than $2 trillion in emergency loans and what the Fed has accepted as collateral. Of the total, $1.23 trillion has been doled out in the last three months. Banks oppose any disclosure because it might demonstrate weakness and hurt their business.

 

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