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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Paxb2u who wrote (85343)	9/16/2008 11:12:16 PM
From: mishedlo	2 Recommendations Read Replies (3) of 116555

AIG Bailout: Fed Loophole 13.3 globaleconomicanalysis.blogspot.com In light of the Fed sponsorship of AIG to the tune of $85 billion or more at taxpayer risk (See Nationalization of AIG: Treasury to get 80% stake in return for $85 billion), inquiring minds just might be asking "By what authority can the Fed lend to insurance companies?" It's a good question given that the Fed is widely thought to be authorized to lend only to banks. It turns out the Fed can lend to pizza parlors if it wants to, with a questionable interpretation of the Federal Reserve Act. ... Mish

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