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The Federal Reserve, under orders from Congress, plans today to identify recipients of $3.3 trillion in emergency aid the central bank provided as it fought the worst financial crisis since the Great Depression.
The Fed intends to post the data on its website at midday
Congress excluded one Fed program from disclosure, the discount window, which is the subject of a 2008 lawsuit filed by Bloomberg LP, parent of Bloomberg News, against the central bank. A group of banks is appealing to the
Bloomberg News asked a U.S. court today to force the Federal Reserve to disclose securities the central bank is accepting on behalf of American taxpayers as collateral for $1.5 trillion of loans to banks.
Wikipedia (pronounced /ˌwɪkɨˈpiːdi.ə/ WIK-i-PEE-dee-ə) is a multilingual, web-based, free-content encyclopedia project based on an openly editable model. The name "Wikipedia" is a portmanteau of the words wiki (a technology for creating collaborative websites, from the Hawaiian word wiki, meaning "quick") and encyclopedia. Wikipedia's articles provide links to guide the user to related pages with additional information.
Originally posted by nickoli
Well did Wiki force this?
Originally posted by badw0lf
reply to post by nickoli
I doubt it. you see
Wikipedia (pronounced /ˌwɪkɨˈpiːdi.ə/ WIK-i-PEE-dee-ə) is a multilingual, web-based, free-content encyclopedia project based on an openly editable model. The name "Wikipedia" is a portmanteau of the words wiki (a technology for creating collaborative websites, from the Hawaiian word wiki, meaning "quick") and encyclopedia. Wikipedia's articles provide links to guide the user to related pages with additional information.
They can't force anything. They - IT - is not how it works..
edit on 1/12/2010 by badw0lf because: (no reason given)
Originally posted by ModernAcademia
Recipients so far:
Reserve of Australia, Banco de Mexico, Norges Bank, Danmarks National Bank,Bank of England,
Swiss National Bank, Bank of Korea, Bank of Japan, Sveriges Riksbank, European Central Bank
A quick analysis by The New York Times indicates that Citigroup was the greatest beneficiary of that program, drawing on a total of $1.8 trillion in loans, followed by Merrill Lynch, which used $1.5 trillion; Morgan Stanley, which drew $1.4 trillion; and Bear Stearns, which used $960 billion. During the crisis, Merrill Lynch was sold to Bank of America and Bear Stearns was sold to JPMorgan Chase, as storied Wall Street institutions crumbled under the weight of bad loans and excessive leverage
Foreign banks were amongst the biggest users of the US Federal Reserve’s emergency credit programmes during the financial crisis of 2007-2009, according to data released by the US central bank.
The revelation that foreign-owned banks were some of the biggest beneficiaries may anger both critics who saw the Fed’s efforts to support US credit markets as a bail-out for Wall Street and those who believed the rescue should benefit the American taxpayer.
The Federal Reserve published the details of more than 21,000 transactions with banks