Sunday, September 26, 2010

Credit Unions Bailed Out: U.S. Backs $30 Billion in Bonds to Stabilize Key Institutions; Subprime Legacy"

Two years after the peak of the financial crisis, the federal government swooped in to stabilize a crucial part of the credit-union sector battered by losses on subprime mortgages.  Before this financial crisis is all over, the bill will be in the trillions of dollars for the entire banking system. 

http://online.wsj.com/article/SB10001424052748703499604575512254063682236.html?mod=WSJ_hps_LEFTTopStories

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