In 2008 the Troubled Asset Relief Program got all the attention, but the real story of financial assistance came from the Federal Reserve and Chairman Ben Bernanke.
Through several programs, the Fed loaned more than a trillion dollars to various troubled firms, with Morgan Stanley (NYSE:MS) taking the most. But the investment bank hardly is alone in being a big player and having to borrow. Here’s a look at the top 10 borrowers from the Fed between August 2007 and April 2010, as compiled by Bloomberg:
- Morgan Stanley, $107 billion
- Citigroup (NYSE:C), $99,5 billion
- Bank of America (NYSE:BAC), $91.4 billion
- Royal Bank of Scotland (NYSE:RBS), $84.5 billion
- State Street (NYSE:STT), $77.8 billion
- UBS (NYSE:UBS), $77.2 billion
- Goldman Sachs (NYSE:GS), $69 billion
- JPMorgan Chase (NYSE:JPM), $68.6 billion
- Deutsche Bank (NYSE:DB), $66 billion
- Barclays (NYSE:BCS), $64.9 billion
You can see the rest of the list here.