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After more than two years of obfuscation, details of the largest bank bailout in U.S. history are beginning to emerge. The Federal Reserve secretly gave banks $7.77 trillion, allowing them to make an estimated $13 billion in profits from the central bank’s below market rates, according to a new report from Bloomberg News.
After more than two years of obfuscation, details of the largest bank bailout in U.S. history are beginning to emerge. The Federal Reserve secretly gave banks $7.77 trillion, allowing them to make an estimated $13 billion in profits from the central bank’s below market rates, according to a new report from Bloomberg News.