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.