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I keep seeing the "we made a profit on the bailouts" line repeated. Usually these comments would end up partially sourced, but I got a bit tired of hearing the
by eganist 9y ago
I keep seeing the "we made a profit on the bailouts" line repeated. Usually these comments would end up partially sourced, but I got a bit tired of hearing the line repeated ad nauseam, so I did a bit of googling and came up with this Pro Publica scorecard: https://projects.propublica.org/bailout/ https://projects.propublica.org/bailout/
Taking them on faith alone, it'd seem that in the aggregate, we did alright. Is there any reason why I should believe otherwise?
- babaganoosh89 9y agoIn case of the banks, fed cut the fed rate to 0%, then banks preceded to massively buy 10 year treasuries. Banks were speculating the fed wouldn’t risk raising rates too fast and bankrupt already weak banks that were speculating on the 10 years in the first place.