Gretchen Morgenson: Don’t Blink, or You’ll Miss Another Bailout

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Gretchen Morgenson: Don’t Blink, or You’ll Miss Another Bailout

Gretchen Morgenson: Don’t Blink, or You’ll Miss Another Bailout

NYT-

MANY people became rightfully upset about bailouts given to big banks during the mortgage crisis. But it turns out that they are still going on, if more quietly, through the back door.

The existence of one such secret deal, struck in July between the Federal Reserve Bank of New York and Bank of America, came to light just last week in court filings.

That the New York Fed would shower favors on a big financial institution may not surprise. It has long shielded large banks from assertive regulation and increased capital requirements.

[NEW YORK TIMES]

image: bimagazine.org

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CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

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One Response to “Gretchen Morgenson: Don’t Blink, or You’ll Miss Another Bailout”

  1. joe says:

    I can’t wait for the federal reserve to give all our money to these scamsters banks. This makes me sick. Who runs that place a bunch of bank loving weirdos

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