Originally Posted by RighteousTrader
Those Banksters! Ripping us all off so they can get fatter!
Source: Bloomberg Click Here Read Full Story...
By Bob Ivry, Bradley Keoun and Phil Kuntz - Nov 27, 2011 7:01 PM ET
Bloomberg Markets Magazine
"The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.
The Fed didnít tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didnít mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fedís below-market rates, Bloomberg Markets magazine reports in its January issue.
Saved by the bailout, bankers lobbied