BUSINESS

Fed's Bear Stearns Assets REVEALED, Many Now Worth Just Pennies On The Dollar

06/01/2010 05:12 am 05:12:01 | Updated May 25, 2011

April 1 (Bloomberg) -- After months of litigation and political scrutiny, the Federal Reserve yesterday ended a policy of secrecy over its Bear Stearns Cos. bailout.

In a 4:30 p.m. announcement in a week of congressional recess and religious holidays, the central bank released details of securities bought to aid Bear Stearns's takeover by JPMorgan Chase & Co. Bloomberg News sued the Fed for that information.

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