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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

G.C. Mandrake

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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