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Fed Gave Secret Bailout to Foreign Banks
Without public disclosure, the Federal Reserve doled out money totaling at least $30 million to three foreign banks at interest rates as low as 0.01 percent during the 2008 financial crisis, Bloomberg reported. The banks Goldman Sachs, Credit Suisse and the Royal Bank of Scotland were recipients recipients of these loans, approved by Ben Bernanke. The information was released following the filing of a Freedom of Information Act request, raising questions by open government and transparency advocates.
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