Fed lending to companies during crisis hit $1.2 trillion

08/22/2011 | Bloomberg

As the financial crisis threatened to plunge the U.S. into depression, the Federal Reserve lent banks and other firms as much as $1.2 trillion. Morgan Stanley, Citigroup and Bank of America were the largest borrowers. European firms, including Royal Bank of Scotland, UBS and Hypo Real Estate Holding, also borrowed money from the Fed.

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