Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

Peter Foley/Bloomberg

Morgan Stanley, along with Citigroup Inc., and Bank of America Corp., were the biggest borrowers under seven Fed emergency-lending programs. The three banks' combined $298.2 billion in hidden Fed loans was triple what they received in publicly disclosed bailouts from the U.S. Treasury.