Fed-biggest Corporate Welfare scam since Great Depression

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Fed-biggest Corporate Welfare scam since Great Depression

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18th March 2008, 06:04 AM	#1 (permalink)
AutoBot Automatic I Am Join Date: Jun 2007 Posts: 38,027 Thanks: 0 Thanked 0 Times in 0 Posts Trader Rating: (0) Rep Power: 382	Fed-biggest Corporate Welfare scam since Great Depression Fed-biggest Corporate Welfare scam since Great Depression The Federal Reserve has taken its "boldest" action since the 1930s, accepting $200bn of worthless housing debt as collateral to bail out Wall Street's mortgage industry loan sharks. This really just a Corporate Welfare scam. The Fed has "legally" circumvented a ban on purchase of MBS's outright, by instead accepting them as collateral for loans. More...

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