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A Detailed Look at the Fed’s Crisis Response by Funding Facility and Recipient
There have been a number of estimates of the total amount of funding provided by the Federal Reserve to stabilize the financial system in the period 2007–11. Congress, led by Senator Bernie Sanders, ordered the Fed to provide a detailed account of its rescue efforts, and a successful Freedom of Information Act suit by
Bloomberg News resulted in a “dump” of 29,000 pages of raw data on the Fed’s actions. Although Bloomberg has claimed that the cumulative “spending” by the Fed (this includes asset purchases plus lending) was $7.77 trillion, reports have not been sufficiently detailed to determine exactly what was included in that total[...]
Bloomberg News resulted in a “dump” of 29,000 pages of raw data on the Fed’s actions. Although Bloomberg has claimed that the cumulative “spending” by the Fed (this includes asset purchases plus lending) was $7.77 trillion, reports have not been sufficiently detailed to determine exactly what was included in that total[...]