Bloomberg Reports $7.7-Trillion in no-interest 'Emergeny' Loans

John Stewart, of the Daily Show on Comedy Central, crushes a kitten when he learns the truth. In 2008, the Federal Reserve offered failed banks $7.7-Trillion in no-interest (0.01%) loans. The banks took the money (including many over-seas banking organizations) and then loaned it back to the U.S. Federal Government at interest (3-7%), and paid their CEO's bonuses out of the money they make on the spread. Cool work if you can get it.

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