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Wall St. Profiting From Stimulus Provision

March 10, 2010 - by Donny Shaw

A couple weeks ago, as Congress was debating whether or not to reauthorize the "Buy America Bonds" program that was created in the stimulus bill to help struggling state and local government borrow money more cheaply and create new jobs, Goldman Sachs ran an ad in the print edition of Politico pushing for the reauthorization to pass. That got some members of Congress thinking -- just how much taxpayer money are the big bailout banks keeping as profit from selling the bonds?

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