Banks Borrow More From Fed; Wall Street Takes Pass
WASHINGTON (AP) — Banks borrowed more over the past week from the Federal Reserve's emergency lending program, while Wall Street firms took a pass for the fifth week in a row.
A Fed report released Thursday said commercial banks averaged $18.98 billion in daily borrowing over the past week. That compared with a daily average of $18.47 billion in the previous week.
The identities of commercial banks and investment houses that borrow are not released. Commercial banks and investment companies now pay 2.25 percent in interest for the loans.
The identities of banks with their hands out for cheap Federal bailout money ARE NOT RELEASED???
That means that the government knows which banks are in trouble, is giving them taxpayer dollars, AND is concealing their identities from the public!!!
Wonderful.
(Artwork by Nicholas Pussin. Photo from that 1972 horror movie that killed the whitewater rafting industry for a couple of decades - at least.)
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