Thread: Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis

Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis Peak

By Bradley Keoun and Craig Torres - Apr 1, 2011 12:19 AM CT


VIDEOS AT LINK.

U.S. Federal Reserve Chairman Ben S. Bernanke’s two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans protected a lender to local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya.

Dexia SA (DEXB), based in Brussels and Paris, borrowed as much as $33.5 billion through its New York branch from the Fed’s “discount windowâ€