Posted on 12/04/2012 5:35:13 PM PST by Perseverando
Between December 1, 2007 and July 21, 2010, Citibank borrowed 2.513 trillion dollars from the Federal Reserve. If it didn't have any skeletons, why did it borrow from so many credit lines instituted by the Federal Reserve (more than any other financial institution)?
Borrowing doesn't cover losses.
Again, it's not the role of taxpayers to subsidize badly run businesses.
I know, we probably lost $20 billion on the auto bailouts. Citi, on the other hand, gave the Treasury a $12 billion profit. Some subsidy.
Near zero? The discount rate is 0.75%.
The Federal Funds Rate is between 0.00% and 0.25%
Banks don't borrow from the Fed at the Fed Funds Rate.
The banking system would not have collapsed if TARP was not passed
Link?
(i.e. borrowing from the Fed at low rates, loan the Federal government, and make money on the spread.).
Which banks do you imagine are doing this? How much are they borrowing to do this?
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