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Bear Stearns Bailout Exposes Fed To Billions In Losses

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The Federal Reserve has seen paper losses on real estate assets it acquired when it helped JPMorgan Chase & Co buy Bear Stearns, the Financial Times reported on Monday.

The paper losses at a vehicle called Maiden Lane, which holds the assets, are due in part to debt used to finance large buyouts, including those of Hilton Hotels and Extended Stay, the paper said, citing unnamed sources.

Read the whole story at Reuters

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