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Recommend Did The Fed Lie About The Bear Stearns Bailout? Bloomberg & Congress Scrutinize Maiden Lane Assets (Email)

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Fed audit, anyone?

As part of the bailout of Bear Stearns, and to facilitate Bear's purchase by JPMorgan, Bernanke, Paulson, Geithner and the Fed created a taxpayer-funded cesspool of toxicity benevolently titled Maiden Lane Partners, and then repeatedly lied to or misled Congress about the quality of the assets it held, say Congressional members from both sides of the aisle.

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