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Report: Major Banks Profited from Bailout

HeadlineApr 27, 2011

The Huffington Post is reporting a newly released study from the Congressional Research Service bolsters claims that the nation’s largest banks profited off the federal government’s bailout programs by borrowing cash for next to nothing, then lending it back to the federal government at substantially higher rates. The report was requested by Vermont Independent Sen. Bernie Sanders, who likened the loans to “direct corporate welfare to big banks.”

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