New York Fed May Require Banks to Buy Back Faulty Loans

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Aug. 4 (Bloomberg) -- Bloomberg's Dawn Kopecki reports on the possibility that the Federal Reserve Bank of New York may require banks to buy back its faulty loans. The New York Fed may seek to make banks repurchase holdings of mortgages and other assets acquired through the rescues of Bear Stearns Cos. and American International Group Inc., a spokesman says. Kopecki talks with Matt Miller and Lizzie O'Leary on Bloomberg Television's "Street Smart." (Source: Bloomberg)

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