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Friday, July 27, 2012

''How did Bank of America Borrow $69 Billion at Zero Percent on the Backs of the Taxpayers?''

From Economic Policy Journal
By Bob English

''The FDIC just released "Issuer Reported Debt Details" for the Debt Guarantee Program (DGP) of its Temporary Liquidity Guarantee Program (TLGP)--meaning a detailed list of which banks borrowed on the backs of the taxpayer during the financial panic and how juicy the terms were.  A total of $618 billion was guaranteed by the FDIC over an approximate one year period.''

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