Michael Lewis Interview on 60 Minutes
Author Michael Lewis revealed on CBS “60 Minutes” this: “[The big banks] have access to a zero percent loan in virtually unlimited quantities from the Federal Reserve. You can take that money and reinvest it in Treasury bonds or government agency securities and you will get the spread and you could do it over and over. You’re essentially borrowing from the government … and taking a cut. ”
Watch Michael Lewis Interview on 60 Minutes:
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