The Federal Reserve took on more than $74 billion in subprime mortgages, depreciating commercial leases and other assets after Bear Stearns Cos. and American International Group Inc. collapsed.Well... There you have it.
In its biggest disclosure of the securities accepted to stabilize capital markets, the Fed said yesterday it had unrealized losses of $9.6 billion on the assets as of Dec. 31. The bonds, swaps and notes were taken in from Bear Stearns, once the fifth-biggest Wall Street firm by capitalization, and AIG, which had been the world’s largest insurer.
[ cf Bear, AIG Dumped $74 Billion in Subprime, CDOs on Fed (Update1) ]
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HOW COULD THE OBAMANITES HATE AMERICA SO MUCH THAT THEY NATIONALIZED ALL OF THOSE ASSETS!
Thank GOD we have RoboBushCheneyParis!
and fashionably Fashionable!
And They Support The Free Trade In Free Markets!