Sheila Bair: Fix income inequality with $10 million loans for everyone!

Categorized | STOP FORECLOSURE FRAUD

Sheila Bair: Fix income inequality with $10 million loans for everyone!

Sheila Bair: Fix income inequality with $10 million loans for everyone!

WaPO-

Are you concerned about growing income inequality in America? Are you resentful of all that wealth concentrated in the 1 percent? I’ve got the perfect solution, a modest proposal that involves just a small adjustment in the Federal Reserve’s easy monetary policy. Best of all, it will mean that none of us have to work for a living anymore.

For several years now, the Fed has been making money available to the financial sector at near-zero interest rates. Big banks and hedge funds, among others, have taken this cheap money and invested it in securities with high yields. This type of profit-making, called the “carry trade,” has been enormously profitable for them.

So why not let everyone participate?…

[WAPO]

image: NYT

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