Wall Street brokerages borrowing $38.1 billion a day from Federal Reserve | Freep.com | Detroit Free Press

Wall Street brokerages borrowing $38.1 billion a day from Federal Reserve | Freep.com | Detroit Free Press: "WASHINGTON -- Big Wall Street investment companies are stepping up their borrowing a bit from the Federal Reserve’s unprecedented emergency lending program.

The Federal Reserve reports Thursday that those firms averaged $38.1 billion in daily borrowing over the past week from the new lending program. That compared with $32.9 billion in the previous week and $13.4 billion in the first week the lending facility opened."