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Monday, November 28, 2011

Newsdome: Feds gave $13 billion in undisclosed bailouts to banks

Well miss you, Barney Frank
>> The Federal Reserve gave banks $7.77 trillion in bailouts, $13 billion more than previously disclosed according to a new Bloomberg report. On top of that, there were no special regulations for the Fed money, like limiting executive pay. So thankful that executives got free bonuses after this Thanksgiving holiday weekend. (Bloomerg)

>> ShopperTrak reports that consumers spent $11.4 billion at this Black Friday, a 6.6 percent increase from last year and a new record. Online spending and early Brown Thursday shopping contributed to the big day. Finally, some conspicuous consumption worth pepper spraying about. (ShopperTrak, CBS)

>> Occupy Los Angeles and Occupy Philadelphia protesters were ordered out of their demonstration places, at midnight and 5 p.m. yesterday respectively, but both groups have stood ground. No arrests have been reported, but it looks like no one is leaving. Occupying is so much better than going back to work after a 4 day weekend. (the Washington Post)

>> Congressman Barney Frank, Massachusetts's fourth district representative since 1981 and the country's first openly gay congressman since 1987, will not run for reelection in 2012. While Frank did not announce his reasoning, some speculate it's because his district now includes more conservative areas. Maybe he wants to spend more time with this. (Boston Globe)

>> And finally: While Americans were waiting in long lines at the mall, Egyptians turned out in huge crowds to vote in the country's first parliamentary election since President Hosni Mubarak's ousting. The Muslim Brotherhood's new Freedom and Justice Party is poised to win a majority of seats, but many expressed that today's votes probably won't make a difference in their country. Why would anyone wait in lines that long if they aren't buying reduced-price flat screen TVs? (the New York Times)

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