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And let's not forget that the banks made lots of money from the Fed bailout. The Fed paid banks interest on money that the Fed gave them for lending purposes. I
by bogomipz 9y ago
And let's not forget that the banks made lots of money from the Fed bailout. The Fed
paid banks interest on money that the Fed gave them for lending purposes. Instead of lending out the money they were given they let the money just sit. And the Fed paid them interest on that.
Essentially the banks made money just for accepting the bailout. See:
http://www.zerohedge.com/news/2017-04-18/free-money-fed-pays-banks-22-billion-not-lend http://www.zerohedge.com/news/2017-04-18/free-money-fed-pays...
and
https://www.washingtonpost.com/news/wonk/wp/2015/12/21/why-the-fed-is-paying-wall-street-banks-billions-of-dollars/ https://www.washingtonpost.com/news/wonk/wp/2015/12/21/why-t...