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Tue, Nov. 29 2011 03:27 PM EDT

Secret Fed Loans to Big Banks: Ranking House Democrat Wants More Info

By Napp Nazworth
The Federal Reserve Board (Fed) secretly committed to over $7 trillion in loans to some of the nation's largest banks. Those banks made $13 billion off those loans. Rep. Elijah Cummings (D-Md.), ranking member of the House Oversight and Government Reform Committee, has requested a hearing with Fed Chairman Ben Bernanke to explain the matter. (A link to this page will be included in your message. )

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