Politics
Out of context: Reply #1297
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- GeorgesII0
Its funny, everyone is pissed of about the wallstreet bailout,
but it will be hell when they'll learn about the 940billions "borrowed" by the banks in one fuckn week,"New York, N.Y.) U.S. banks borrowed $188 billion per day on average in the latest week from the Federal Reserve, meaning that the Fed loaned out more money than the Treasury’s proposed bailout in just one week, still barely managing to keep the economy afloat.
Federal Reserve data showed on Thursday the total amount banks borrowed nearly quadrupled the previous record of $47.97 billion per day notched just the week before, Reuters reports.
$188 billion per day on average over the course of five days means that the total amount borrowed from the Fed in the week ending the 24th September stood at $940 billion - a figure that easily eclipses the proposed $700 billion bailout."