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Ben Bernanke's Nobel Prize award rewrites the past while darkening future for a single word.

Eurodollar University

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The Fed's Bailout of a Major Bank in January 2009

By January 2009, remember the Federal Reserve had already acted in ways we couldn't even imagine. This is months after these dollar swaps had gotten to their maximum amount. Here has been Ben Bernanke at FOMC meeting in January 2009 saying, I am certainly very uncomfortable with it. But for whatever reason, our system is not working in a way it should in order to address the crisis in a quick and timely way.

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