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Published on Dec 15, 2011
The Subcommittee on TARP, Financial Services, and Bailouts of Public and Private Programs held a hearing entitled, "What the Euro Crisis Means for Taxpayers and the U.S. Economy, Pt. 1" to examine the economic turmoil facing Europe and what actions the U.S. government has taken in reaction to it, including the recent decision by the Federal Reserve System to extend currency swap lines with foreign central banks, the role of the International Monetary Fund, and the exposure of the U.S. banking system to the European crisis.