Thursday, August 1, 2013

Banks benefit twice from bailout as they milk MTA with interest-rate swaps

Money For Nothing – New York Interest Rate Swaps: "The economic collapse and federal bailout changed the “rules of the game” with respect to interest rates. Now taxpayers are suffering and governments are stuck with the old rules while banks are allowed to play by the new ones. We need one set of rules for everyone.

Banks should be held accountable for their part in crashing the economy, not rewarded with a second bailout under lucrative swap agreements."

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