March 20, 2011
-- by Dave Johnson
The Fed is now handing cash to wealthy people who own bank stocks. They have authorized banks to pay dividends, while giving banks money at zero percent for them to loan back to the US govt at higher rates. That is free money. If you have money in the bank, you are paying for that by receiving almost no interest.
Posted by Dave Johnson at March 20, 2011 1:39 PM
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