This paper looks at the trends in activity at the Federal Reserve’s newly-created special lending facilities, hoping to provide a better understanding of their operation and significance within financial markets. These facilities were created in response to the financial crisis and have expanded the Fed's balance sheet by over $1 trillion in terms of total assets.
VIDEO: The Federal Reserve is one of the most powerful and secretive institutions in Washington, long considered beyond the reach of lawmakers. But now, as details emerge of how the Fed secretly doled out more than a trillion dollars during the financial crisis, a rare bipartisan movement in Congress demands that the Fed be held accountable.
Opinion (Stan Liebowitz)
EDITORIAL
Nearly a century ago, the jurist Louis Brandeis railed against what he called the “curse of bigness.” He warned that banks, railroads and steel companies had grown so huge thatthey were lording it over the nation’s economic and political life. [See also "<a href="http://wwwRead more »
Old habits die hard—especially bad ones, and especially when they're backed by well-heeled lobbyists and a powerful congressional committee chairman.Read more »