European Union - Leaders Side with Banks not Citizens - Page 2 - New England Patriots Forums

The Brandon Five · 11-28-2011, 01:50 PM

Quote:

Originally Posted by PatriotsReign

Well, at least they were LOANS....do you know if they've all been paid back?

Who knows? They kept everyone in the dark about this operation (except for the inept bankers, of course).

Quote:

Dean Baker, co-director of the Center for Economic and Policy Research in Washington, says banks “were either in bad shape or taking advantage of the Fed giving them a good deal. The former contradicts their public statements. The latter -- getting loans at below-market rates during a financial crisis -- is quite a gift.”

The Fed says it typically makes emergency loans more expensive than those available in the marketplace to discourage banks from abusing the privilege. During the crisis, Fed loans were among the cheapest around, with funding available for as low as 0.01 percent in December 2008, according to data from the central bank and money-market rates tracked by Bloomberg.

The Fed funds also benefited firms by allowing them to avoid selling assets to pay investors and depositors who pulled their money. So the assets stayed on the banks’ books, earning interest.

More welfare for millionaires.

This is total b.s.

PatriotsReign · 11-28-2011, 04:05 PM

Quote:

Originally Posted by The Brandon Five

Who knows? They kept everyone in the dark about this operation (except for the inept bankers, of course).

More welfare for millionaires.

This is total b.s.

Well even if they don't pay it back, taxpayers can take care of it for them...what else is new?