Thursday, December 2, 2010

Want to Know Who Got Money from the Fed in 2008?

WSJ has got you covered.

Slate's Annie Lowrey breaks it down, and got this quote which backs up what I've been saying over the past few days:

"We knew the Fed helped foreign companies," Petrou says. "But this speaks to the Fed's credit. In the midst of a global financial crisis, the Fed mustered liquidity support when all of the other central banks were acting slowly. The Fed became the global central bank—and that was a very good call, given that everyone's backs were against the wall."

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