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Political Factoid
Primary Dealer Credit Facility (PDCF) Money
The Federal Reserve lent a total of about $8.95 trillion to primary dealers of government securities.
Six banks got over 98% of that money:
- Bank of America
- Citigroup
- Goldman Sachs
- Morgan Stanley
- JPMorgan
- Barclays
Aren't those the same banks who's CEOs
got record bonuses during the economic recession
following the Bush years in the White House?
cf. 144
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