This is a great series of blogs about what has happened over the past 3 years with the banking system and federal reserve. To put it simply, imagine that you had a friend who would loan you huge amounts of money at zero interest and then agree to borrow the money back from you at 3% interest? It wouldn't take a genious to make a bunch of money, would it.
http://www.nakedcapitalism.com/2011/06/guest-post-congressional-research-service-confirms-big-banks-borrowed-cash-for-next-to-nothing-then-lent-it-back-to-the-federal-government-at-much-higher-rates.html?utm_medium=referral&utm_source=pulsenews
What has happened in the past 3 years is really deplorable. The thing that everyone needs to realize is that this is NOT a Republican or Democrat issue. Unfortunately, the whole system is messed up and Ds & Rs are guilty of not doing what needs to be done to preserve and protect the American way of life. As a lifelong capitalist, I can say that the things that have been done are so anticapatilist that it is ridiculous.
