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Euro Crisis Makes Fed Lender of Only Resort as Funding Ebbs
Torres and Salas Gage
09/28/2011
www.bloomberg.com
The Federal Reserve, chastised by Congress for lending money to foreign institutions including a Libyan-owned bank, is once again the lender of last resort for banks around the world it knows little about.
Three years after the collapse of Lehman Brothers Holdings Inc., money-market borrowing rates for dollars are rising, leading the Fed and European Central [...]
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