After more than two years of obfuscation, details of the largest bank bailout in U.S. history are beginning to emerge. The Federal Reserve secretly gave banks $7.77 trillion, allowing them to make an estimated $13 billion in profits from the central bank’s below market rates, according to a new report from Bloomberg News.
Every day, reporters and producers at The World are hard at work bringing you human-centered news from across the globe. But we can’t do it without you. We need your support to ensure we can continue this work for another year.
Make a gift today, and you’ll help us unlock a matching gift of $67,000!