B of A: $64 Billion, 0% Interest

Remember the bailout? Want to throw-up all over again? The FDIC recently released the breakdown of the $618 Billion+ payouts.

From Bob English at EconomicPolicyJournal.com, Bank of America received “a total of 1,352 issues totaling $69,205,303,031” at 0% interest. He noted that, “While several other institutions were able to take advantage of 0% rates on a portion of their debt funding (including Citibank, General Electric Capital, Goldman Sachs Group and HSBC), only Merrill Lynch & Co. was able to finance nearly all of its $19,786,359,000 in debt issued at 0%.

And who was the big winner? “Preliminary analysis reveals it is General Electric (GE) Capital, with 4,328 issues totaling $130,850,166,935.

Think this is shocking? Just wait until we finally get a look at the Fed’s books, hopefully after the election. Time to read-up on Economics theory.

Read on to see “Who Got How Much.”

You can also visit the FDIC sitefor the actual source spreadsheet and the issuance interest rates

About the author: G.C. Mandrake

GC Mandrake is the pen name for a psychologist, former Air Force Captain, and a strong advocate of the constitution, a balanced budget, and individual liberty. Website: patrioticdiscourse.com

View all articles by G.C. Mandrake

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