Your Federal Reserve at work:

They were trying to spur consumer lending, so they gave people these millions of dollars, said, ‘go out and buy student loans and commercial mortgages, and credit cards and whatever else it is that you want to buy, give them to us; if it goes up in value, you take them back and you cash them in, and if they go down in value, you leave them with us and the taxpayer will eat the loss.’- Matt Taibbi on the millions loaned to CEO wives, foreign banks, foreign car companies, etc. by the Federal Reserve

Here’s the link yet again for those that have not yet gone over to Rolling Stone and checked out Matt Taibbi’s piece.

The Real Housewives of Wall Street

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