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Simultaneously, Mark Pittman of Bloomberg reported that the Federal Reserve has lost $9.6 billion on the assets it purchased from Bear Stearns and AIG last year.
Americans deserve to know which banks are receiving taxpayer money, what they are doing with the money, and the credit risk taxpayers are taking on through the Federal Reserve’s actions. This language encourages such transparency, allowing for audits and public disclosure of secret loans and financial assistance from the Federal Reserve to these large institutions.
It's your money, and you deserve to know what's happening with it.
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