Money for nothing

Discussion in 'Economy' started by sparky, Aug 18, 2011.

  1. sparky
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    sparky VIP Member

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    OUTRAGE OF THE DAY: Do You Realize That The Government Is Still Paying Banks Not To Lend...?


    The Federal Reserve is quietly continuing with one of the many outrageous bank-bailout programs it initiated during the financial crisis--the one in which it pays big banks interest on their "excess reserves."

    What are "excess reserves"?

    Money that the banks have but aren't lending out--money that banks are just keeping on deposit at the Fed.

    The Fed is paying banks 0.25% interest on this money.

    0.25% interest may not sound like much, but it's more than the banks are paying you to keep money in your savings or money-market account. It's also more than you'll earn if you lend the Federal government money for 2 years.

    Oh, by the way, why, exactly, are you earning so little interest in your savings accounts and money-market funds?

    Well, because, thanks to another one of its bank-bailout programs, the Fed is keeping short-term interest rates at zero.

    In other words, the Fed is paying banks not to lend money and screwing you, American citizens, because you're dumb enough to have saved money.



    Read more: OUTRAGE OF THE DAY: Do You Realize That The Government Is Still Paying Banks Not To Lend...?



    Now look at them yo-yo's that's the way you do it
    You play the public with the SEC
    That ain't workin' that's the way you do it
    Money for nothin' and your checks with fee
    Now that ain't workin' that's the way you do it
    Lemme tell ya them guys ain't dumb
    Maybe get a blister on your little finger
    Maybe get a blister on your thumb

    We gotta install equity securities.
    Custom pension's with extra fees
    We gotta move derivative securities
    We gotta move hedge fund sleeze

    I want my, I want my, I want my ATM
     
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  2. Douger
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    Douger BANNED

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    Lemme 'splain this.
    Your owners clearly see that China will quickly overtake the US as the world largest economy. They will NOT stand for that. You idiots swarm to Walmart and other stores that sell useless shit which contributes heavily to China's economy. The solution ? If you don't have any money you cant buy any of their shit. You weren't smart enough to do it on your own so you owners are "helping you out".
    Yes. They will (are) going to take the economy all the way down, if that's what it takes.
     
    Last edited: Aug 18, 2011
  3. Mr Clean
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    Mr Clean Gold Member

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    Chicks for free.
     
  4. Moonglow
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    Moonglow Diamond Member

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    You people are so ignorant of the facts, all day and night this site has more misinformation than the Bible and the Quran combined.

    2.7%, yeah, those Chinese will over take the chicken littles of this forum.
     

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