Labor's Pains

Friday, March 9, 2012

Banks Repaid Fed Bailout With Other Fed Money: Government Report

Banks Repaid Fed Bailout With Other Fed Money: Government Report

Though lots of people grumble about the government bailing out banks in the financial crisis, we have at least taken some comfort in the idea that the government has turned a profit on that bailout.

Only problem is, that profit comes from taxpayer money -- money that was meant to spur banks to develop communities and help small businesses. Instead they've used it to develop and help themselves.

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