Friday, September 9, 2011

Feds sue 17 banks over mortgage bonds

Just to be clear how the system works: the Fed is suing the same banks to which it is giving tax money (directly and indirectly) to prevent their default. Now, if the Fed wins its case, it will be forced to finance the banks with more tax money so that they could to pay the penalty back to the Fed. 

What am I missing?

No comments: