Wall Street takes advantage of emergency Fed lending program - Mar. 20, 2008:
"...Wall Street investment companies are taking advantage of the Federal Reserve's unprecedented offer to secure emergency loans, the central bank reported Thursday....Those large firms averaged $13.4 billion in daily borrowing over the past week from the new lending facility....This mechanism, similar to one available for commercial banks for years, got under way Monday and will continue for at least six months. It was the broadest use of the Fed's lending authority since the 1930s"
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