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NEW YORK -- The Federal Reserve on Wednesday reluctantly opened the books on its monumental campaign to save the financial system in the midst of the recent crisis, revealing how it distributed some $3.3 trillion in relief.

The data revealed that the Fed's aid was scattered much more widely than previously understood. Two European megabanks -- Deutsche Bank and Credit Suisse -- were the largest beneficiaries of the Fed's purchase of mortgage-backed securities. The Fed's dollars also flowed to major American companies that are not financial players, including McDonald's and Harley-Davidson, through unsecured short-term loans.

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JPM

JPMorgan Chase & Co.

37.62

-0.29

-0.76%

147.06B

BAC

Bank of America Corp.

11.09

-0.22

-1.95%

111.84B

WFC

Wells Fargo & Company

27.26

+0.06

0.22%

143.03B

C

Citigroup Inc.

4.22

+0.07

1.57%

122.45B

PNC

PNC Financial Services

54.14

-0.18

-0.33%

28.46B

GE

General Electric Company

15.90

-0.07

-0.41%

169.32B

GS

Goldman Sachs Group, Inc.

157.86

-1.07

-0.67%

80.70B

MS

Morgan Stanley

24.57

-0.35

-1.40%

37.16B

USB

U.S. Bancorp

23.89

-0.21

-0.87%

45.83B

HBC

HSBC Holdings plc (ADR)

50.65

-0.37

-0.73%

179.14B

DB

Deutsche Bank AG (USA)

48.18

-1.17

-2.37%

29.72B

The banking sector could nose dive in similar fashion to this summer's BP oil catastrophe when Wikileaks releases its internal documents. In an interview with Forbes magazine, Julian Assange mentioned that he would be releasing evidence that could bring down a major US bank.

There are plenty of controversial issues within the banking sector, some of which include; the subprime mortgage scandal, Robo-signing of foreclosure documents and JP Morgan’s suppression of silver through naked shorting, just to name a few...CONTINUED BELOW

WikiLeaks’ Julian Assange Wants To Spill Your Corporate Secrets

Early next year, Julian Assange says, a major American bank will suddenly find itself turned inside out. Tens of thousands of its internal documents will be exposed on Wikileaks.org with no polite requests for executives’ response or other forewarnings. The data dump will lay bare the finance firm’s secrets on the Web for every customer, every competitor, every regulator to examine and pass judgment on.

Stock

1 GLD 118.81
+0.45 (0.38%)    
2 INX CA$0.48
0.000 (0.00%)    

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