During the 2007-2008 financial crisis,both the Fed and the European Central Bank bought bad debt in order to stabilize banks.

Name: During the 2007-2008 financial crisis,both the Fed and the European Central Bank bought bad debt in order to stabilize banks.
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Both the Fed and the ECB engaged in a program of purchasing troubled assets from banks during the financial crisis in an effort to stabilize the financial system. This included buying bad debt and other risky assets.

During the 2007-2008 Financial Crisis,both the Fed and the European