Yes, the "shareholders" get a bit of the profit, the US Treasury gets much, much more.
and confers massive benefits upon them.
They sure aren't taking advantage of those ultra-cheap loans right now. Currently, primary loans at the Discount Window are $10 million.
Anyone who isn’t one of those owners doesn’t get to enjoy those benefits. That’s a good working definition of ‘privately owned’.
That's a definition of member, not owner.
If I was an owner, I'd vote for more than 0.25% on my reserve balances. I bet I could get all the other "owners" to agree. I also bet I'd be unsuccessful in my vote.
They earn 0.25% interest on nearly 2 Trillion dollars that was wished into existence in order to buy their toxic assets. They got paid at book price rather than at market price for these trash bonds and failed financial instruments.
Can you sell your failed assets to the Government at book price? No. But they can.
Ok, I have to go home now. We'll do this again another day, no doubt. Good night all.