by Jim Quinn
Interesting charts. In 2007, prior to the Wall Street created worldwide financial collapse, the Fed Funds rate was 5.25% and credit card interest rates were 15%. The Fed then provided free money to their Wall Street bank owners with a Fed Funds rate of 0% for the next 6 years. But your friendly Wall Street banker only reduced credit card interest rates to 13%. So not only did Wall Street fuck you with millions of foreclosures, absconding with $700 billion of TARP, having the Fed buy up $4 trillion of their toxic mortgages, but they reaped far more interest income from credit cards by not lowering rates to 10%. Wall Street always wins. ‘Merica Fuck Yea!!!