economic interests

Wall Street $7.8 Trillion, Main Street Not So Much

This analysis is not from Occupy Wall Street: It’s from those long-haired, hippie radicals over at Bloomberg News, whose Freedom of Information Act lawsuit finally pried the bailout details out of the unwilling Fed. Turns out the banks made $13 billion in profits off the government’s sweetheart-deal interest rates, which New Deal 2.0 is calling maybe “the biggest subprime loan operation of all time.”

The contrast couldn’t be clearer: While the government swung into extreme, double-secret action to save Wall Street, it’s sitting on its hands as long-term mass unemployment hammers Main Street.

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