Fed Handed Out $1.2 Trillion in Secret Loans Amid Crisis - YouTube
►http://www.youtube.com/watch?v=CWrphXxKe4Q&feature=player_embedded
Aug. 22, 2011 (Bloomberg) — The Federal Reserve’s unprecedented effort to keep the economy from plunging into depression included lending banks and other companies as much as $1.2 trillion of public money. The largest borrower, Morgan Stanley, got as much as $107.3 billion, while Citigroup Inc. took $99.5 billion and Bank of America Corp. $91.4 billion, according to a Bloomberg News compilation of data obtained through Freedom of Information Act requests, months of litigation and an act of Congress. Erik Schatzker and Sara Eisen report on Bloomberg Television’s “InsideTrack.”