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Fed Won't Say Where $2T in Loans Went

Money is in addition to $700B Wall St. bailout; collateral unclear, too

By Harry Kimball, Newser Staff

Posted Nov 10, 2008 12:54 PM CST

(Newser) – The Federal Reserve has lent more than $2 trillion to financial institutions under programs without congressional oversight—and will not disclose to whom or under what terms, Bloomberg reports. The loans are separate from the $700 billion congressionally approved bailout package. Investors and citizens are... Read full story »

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Fed Won't Say Where $2T in Loans Went

Money is in addition to $700B Wall St. bailout; collateral unclear, too

Ben Bernanke • Wall Street • Federal Reserve • Freedom of Information Act • lawsuit • credit crisis • bailout • financial crisis

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With no federal deal, agencies limited to ad hoc solutions

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Of meeting with officials, lawmaker says: 'We have never heard language like this'

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BofA, Barclays balk at bad assets, but bailout not in the cards

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