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Tag Archives: JP Morgan Chase

The Fed is in Hot Water

The Fed has finally came clean. It now admits it bailed out Bear Stearns – taking on tens of billions of dollars of the bank’s bad loans – in order to smooth Bear Stearns’ takeover by JPMorgan Chase. The secret Fed bailout came months before Congress authorized the government to spend up to $700 billion [...]

Bankers making turkeys out of taxpayers

The nation’s bankers have much to be thankful for as they sit down to their turkey dinners on Thursday. At this time last year, the American financial system was near collapse, rescued only by hundreds of billions of taxpayer dollars. Now the system has stabilized, and the industry is on the verge of a coup [...]