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“The Fed gave $220 million in bailout money to the wives of two Morgan Stanley bigwigs”

OK, this article is in the Rolling Stone, no friend of conservatives.

But it makes some verifiable and stomach-turning claims. The wives of two Morgan Stanley executives, who previously had no experience in finance, put up $15 million and received $220 million of TALF funds from the Fed to buy distressed securities. They got 100% of the gain; the Fed absorbed all the losses; and the loans were nonrecourse.

Here’s a summary with a bunch of comments, some interesting.

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