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IPFS News Link • Economy - Economics USA

Fed Invokes Little-Used Authority to Aid Bear Stearns

3-14-2008 • Bloomberg

Federal Reserve Chairman Bernanke invoked a law last used 4 decades ago to keep Bear Stearns from collapsing after the securities firm approached the Fed for emergency funding. The loan required a vote because the company isn't a bank

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Reported By Powell Gammill

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