During the 2007-2009 financial crisis, the government engaged in bailouts but did not act as a lender of last resort.

Name: During the 2007-2009 financial crisis, the government engaged in bailouts but did not act as a lender of last resort.
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During the 2007-2009 financial crisis, the government, particularly through the Federal Reserve, acted as a lender of last resort by providing liquidity to banks and other financial institutions to prevent the financial system from collapsing.

During the 2007-2009 Financial Crisis, the Government Engaged in Bailouts