Waiting for the Toddster to tell us that this never happened, and even if it did, well we need banks and banking so suck it up and be thankful for it all.
Given out? LOL!
The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program,
Yeah, they call loans loans. Odd, isn't it?
but virtually none of the money has been returned and it was loaned out at 0% interest.
All of it was returned. It wasn't loaned at 0%.
Thanks Andy, I always enjoy pointing out the idiocy in these posts.
You got that one right. And Greek bonds, failed derivatives bets, mortgage backed paper, no interest loans, etc., are perfectly fine collateral, terms and conditions for the US taxpayer.