Free Money
Mar 09
2009
2009
Comments Off
Would the banks been able to make all the bad loans without free money from the Federal Reserve?
After 9/11without the Federal Reserve giving out essentially free money to the banks at 1%, it is highly likely that most of the bad housing loans would have happened in the first place. There would have been no artificial housing boom to begin with.
it happened long before that,look at the federal reserves policy,back when clinton was president,they told member banks to either loan a set amount of money,or invest it. that started the cheap and easy credit boom
Free Money — Patti Smith
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