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Fed Slow To React To 2008 Financial Crisis, Transcripts Say

By Kurt Orzeck (February 21, 2014, 6:31 PM EST) -- Federal Reserve officials grappling with the bankruptcy filing of Lehman Brothers Holdings Inc. in September 2008 failed to comprehend the size, scope and swiftness of the emerging financial crisis, according to transcripts of emergency meetings the central bank released Friday....

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