Fed Doled Out $1.2 Trillion In Secret Loans To Giant Banks, Brokerages

Fed Doled Out $1.2 Trillion In Secret Loans To Giant Banks, Brokerages

The Federal Reserve got loan-happy from 2007 to 2010, handing out mega funding to several top banks and brokerage firms, such as Morgan Stanley, Citigroup and Bank of America. The secretive financial agreements were meant to stop the economy from plunging into depression. [More]