Spitzer points out one of the biggest pieces of the bailout -- ZIRP for the banks, zip for savers. I've been thinking about this for a while -- anyone know how to quantify this piece of the bailout? I.e. how much is grandma (collectively) losing on her CD's vs. normal times in order to save the banks?
Reader Comments (4)
Follow the money - where did all the money go!? - It can't just be bonuses, so where is it? Or in what or for what was it used?
It's a like a back door into the vault at the Treasury.
It's better than being a counterfeiter with perfect printing plates and the exact paper.
They don't even have to smell the ink coming off the printing presses.
http://www.georgewashington2.blogspot.com/2010/01/is-us-government-buying-stocks.html
the plunge protection team...there are 400 traders who work for the Fed now...