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The Closest the con has gotten to the light. On…

with one comment

Of course, The Daily Show on May 13th.

The Banks (JP Morgan, Goldman Sachs, Bank of America and Citi) made money every day last fiscal quarter, regardless of how the market performed.

Matt Taibbi from Rolling Stone Magazine also broke this story, but I’m shocked how little light has been shed on this, and how very very very FUCKIN VERY little people know about this.

Short version: remember that bailout? Where the .gov lent these banks money at 0% interest? What did the banks do with this money? Well they bought treasuries. In other words, they lent money back to the government… but charged them interest for doing so.

What.The.Fuck.

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Written by skepticalsinner

May 18, 2010 at 6:34 pm

One Response

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  1. […] Don’t you think GB should also be talking about that? He talks about GM and National Debt but I don’t see anything about the Banks ripping us off. […]


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