(11AM EST – promoted by Nightprowlkitty)
Someone please diary this info. I do not have time and this is really huge
* Fed releases details of loans made during crisis
* Barclays took largest loan from broker-dealer window
* Citigroup, BofA sought support well into spring 2009
* Korea, Harley Davidson borrowed commercial paper (Recasts, adds details, analyst reaction)
By Pedro da Costa and Rachelle Younglai
WASHINGTON, Dec 1 (Reuters) – Goldman Sachs Group (GS.N) Citigroup (C.N) and other big U.S. banks repeatedly sought help from the Federal Reserve during the financial crisis, according to data on Wednesday that showed just how precarious their situation was at the time.
Many of the firms now boasting solid profits had to rely on funding from the U.S. central bank, which essentially acted as the glue holding the financial system together in the tumultuous months that followed the bankruptcy of Lehman Brothers in September 2008.