Secret Fed Loans Gave Banks Undisclosed $13B – Bloomberg.

I know some hedge fund manager asked “the bank didn’t clean up their book”, where the money go? I guess that explain it. Here you go, Fed pick up the tab. Well, the big banks were able to make money with 0.01% interest rate.

Freaking Moral hazard. I really don’t know what to think of it. Honestly, if the fed didn’t do this, I am pretty sure my saving is gone by now. I, however, feel kind of rip off since I know how much the bankers are making. And I know the Fed is helping them to do that.

You know the indication of these information? If the Fed print more money (QE3), people is going to be crazy mad, and the wall street occupy is going to be wild.

Secret Fed Loans Gave Banks Undisclosed $13B - Bloomberg