Bernanke rebuts "wildly inaccurate" news reports (I, II, III) that the Fed was aiming to help...

|By:, SA News Editor
Bernanke rebuts "wildly inaccurate" news reports (I, II, III) that the Fed was aiming to help big banks’ profits at the expense of taxpayers during its emergency lending in 2008. Banks reportedly reaped ~$13T after the Fed committed $7.7T in funds; the correct amount, he says, was more like $1.5T - "necessary" to prevent the collapse of the financial system.