"The Fed has known for more than 3 years that the corporations have been ripping off investors by selling them garbage bonds from which the proceeds would be used - not to develop new products or train workers or build factories or increase productivity - but to boost executive compensation via stock buybacks. That was the whole deal in a nutshell, more loot for greedy CEOs. It was a swindle from the get go. The Fed knew that, because everyone knew that. Now the Fed wants to make these hucksters ‘whole again’ because their bunco scheme blew up in their faces and they can’t tap into the credit markets like they did before. Too freaking bad."
Source - http://www.informationclearinghouse.info/54049.htm
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