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It looks as if the taxpayers will be footing the bill for the wealthy to be bailed out to the tune of over $100 billion dollars.
Yep, best government big money can buy.
Banks are borrowing money from the feds at 0%, using that money to buy treasury bills and earning 1-2% on the bills. Sounds like a scam to me.
Would you lend out money to Joe Blow who could default at 4% for 30 years when you can get a guaranteed sweet spread like that? Too bad people don't realize that banks aren't lending because of this. Money squatting courtesy of the government and the Fed.
No kidding, the only thing the bankers did was go on lavish vacations on taxpayer dime.
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