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>We don't know what interest rates would be if the fed wasn't promising free money to the big banks. My credit union can offer 2.0%, why can't Bank of America o

>We don't know what interest rates would be if the fed wasn't promising free money to the big banks. My credit union can offer 2.0%, why can't Bank of America or Chase or Wells Fargo? Because banks aren't around to make the customers money, they are there to give the shareholders dividends.

freejulian85 7y ago
> Because banks aren't around to make the customers money, they are there to give the shareholders dividends. Fine, but that doesn't entitle them to free money from the Fed.
- vuln 7y ago
  For the Fed it’s just the “cost of doing business” at zero cost to them.
- TuringNYC 7y ago
  Once you are a sufficiently powerful and influential entity, you write your own entitlements and the government delivers them. We saw this clearly in 2008 and 2009.