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GoneFishin

(5,217 posts)

1. Nice. The banks borrow money from the Fed at virtually 0% interest, and drive up the living

Reply to truth2power (Original post)

Sat Mar 8, 2014, 12:28 PM

Mar 2014

expenses of Joe Average by creating artificial scarcities. When Joe can't make ends meet on his paycheck, they give him a 29% credit card underwritten with money they borrow from the Fed for free.

Then, if any of their riskier, glutenous investments go south, they send Joe the bill by way of government bailouts to the banks and higher taxes for Joe and the rest of middle class america.

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Matt Taibbi - The Vampire Squid Strikes Again: The Mega Banks' Most Devious Scam yet... [View all] truth2power Mar 2014 OP

Nice. The banks borrow money from the Fed at virtually 0% interest, and drive up the living GoneFishin Mar 2014 #1

SCUM of the earth! benld74 Mar 2014 #2

"Will this thievery ever stop? " bvar22 Mar 2014 #3

We've had trouble ever since they gamed it to make money through a profit loss. Spitfire of ATJ Mar 2014 #4