Other beneficiaries included ... Verizon, Harley-Davidson?
(NEWSER) - The beneficiaries of the Federal Reserve's $3.3 trillion in emergency programs during the financial crisis aren't names you'd expect to see: Foreign banks including UBS and Barclays ranked among the biggest borrowers under the Commercial Paper Funding Facility, sparking more debate over the central bank's role, Bloomberg reports. A helping hand also went to companies that most wouldn't link to Wall Street, according to some 21,000 loan records released yesterday: With credit frozen, the Fed also purchased commercial paper from the likes of GE, Verizon, and Harley-Davidson. More»
