Corporate cash-hoarding continues
Even as the economy improves, corporate America continues to pile up record amounts of unused cash, Bloomberg reports. Read more at Counterparties
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Citi tapped Fed window 278 times during crisis
WASHINGTON |
WASHINGTON (Reuters) - Citigroup Inc (C.N) sought help from a Federal Reserve program for Wall Street dealers 278 times during the financial crisis, according to data released by the U.S. central bank on Wednesday.
Citigroup borrowed as much as $18.63 billion from the Fed's Primary Dealer Credit Facility.
Merrill Lynch, the investment bank acquired by Bank of America Corp (BAC.N), tapped the emergency lending program 225 times and borrowed as much as $33.2 billion during the crisis.
(Reporting by Rachelle Younglai, Pedro da Costa, Glenn Somerville, Editing by Chizu Nomiyama)
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In 1950, the Brinks robbers stole $1 million. NO one was hurt. The robbers got life in prison.
What do we do with people mostly repubs – who game the system to steal billions on billions, while destroying (CBO data) 15-17 Trillion of the net worth of Americans, mostly the middle class?
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