How Obama bought off the big banks (and vice versa)

November 9, 2011 06:55

It is a real no-brainer to borrow money from the Fed at near zero percent and then turn around and buy Treasury Bills at 3+% in order to finance the deficits run up by the Obama administration. – American Thinker

Steve McCann at American Thinker


The finding: these firms have accumulated more profit in the three years of the Obama administration than they did in the two terms of George W. Bush.

We’re talking about banks, the big ones you’ve heard of, Citigroup, Bank of America.  These big banks have done well coming out of the crisis.  The Wall Street firms most people haven’t heard about, which are either independent companies [such as Goldman Sachs] or the securities arms of big banks [such as Merrill Lynch], have done even better.

For example, government policies basically gave banks nearly free money, loans at zero percent and then turn it around into investments and that obviously is an extreme advantage that nobody else has.


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