The FED gave $38,000,000,000.00 to the mortgage companies already this year alone.
The mortgage companies had a problem, then repossessed too many US homes, so now they have all that valuable property.
2007-09-27 01:48:48 · 5 answers · asked by Darth Vader 6 in Politics & Government ➔ Politics
The Federal Reserve system shouldn't even exist.
"Irony is Andrew Jackson on a central bank note."
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2007-09-27 02:04:27 · answer #1 · answered by Chad 5 · 0⤊ 0⤋
We have a military budget, thats why. The fed lends money to banks at a lower than normal interest rate so banks can still offer loans backed with actual cash, it doesnt "give" money away. If you think they are turning a profit on all those valuable homes they reposses, you are misinformed.
2007-09-27 09:09:30 · answer #2 · answered by bloodshotcyclops 4 · 0⤊ 0⤋
We should have never had a FED in the first place. The founding fathers warned about this. So it's up to your generation to do something about this.
I Cr 13;8a
2007-09-28 03:15:45 · answer #3 · answered by ? 7 · 0⤊ 0⤋
Do you even know how mortgages work?
2007-09-27 09:04:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No one gave money to anyone.
2007-09-27 08:52:14 · answer #5 · answered by regerugged 7 · 0⤊ 0⤋