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Fed Rescue Strategy for Economy Lowers U.S. Bailout Tab to $11.6 Trillion

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WHEW! WE THOUGHT IT WAS GOING TO BE MUCH HIGHER!
The Fed is allowing some of the 10 support programs it created or expanded after the credit crisis began in August 2007 to expire or shrink, Bloomberg reported.  The result is the first decline in the amount of money the U.S. has committed on behalf of taxpayers, according to data compiled by Bloomberg. The central bank has purchased $694 billion of mortgage- backed securities since January and plans to spend $556 billion more by April 2010 to keep interest rates down.
SOURCE:   Bloomberg

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