Last Updated: December 15, 2011
On October 13, 2008, the Treasury Department hosted a meeting of the CEOs of nine major banks to coerce them into accepting the U.S. government’s $250 billion equity stake. Following a Judicial Watch Freedom of Information Act (FOIA) request, the Treasury Department replied that it had no relevant documents. When a FOIA lawsuit was filed, the Treasury was forced to produce documents which showed that the banks were forced to accept government funds.
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