Many have called the November 2008 swaps settlement, orchestrated by the Fed, a back door bailout of the banks.

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The New York Fed turned over 250, 000 documents and emails in response to a subpoena by the committee, which is particularly focused on the counterparty payments, which critics call a back door bailout of the biggest Wall Street firms.

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Europe has certainly been imaginative in trying to keep the wolf from the door with bailout expenditures.

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Asked whether AIG could get more bailout funds down the road, Summers suggested the door is open to more taxpayer money, despite the bonus controversy.

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