this all started with a FOIA request by bloomberg which revealed some really insane stuff. i wasn't on xo at the time, curious if there was a thread about it here
Date: March 1st, 2012 8:07 AM Author: Supple Deer Antler Pit
If you are able to borrow $1 trillion from the fed and lend $1 trillion back to the fed at a higher rate, the interest is a gift, but it isn't $1 trillion. The $13 billion figure from the article - the actual bailout - is small beer by federal spending standards.