Money For Nothing: Wall Street Borrowed From Fed At 0.0078 PercentShahien Nasiripour
Dec. 02, 2010
Black Guy Walks Into Starbucks, Calls Them 'Racist,' Demands Free Coffee, Gets It Immediately
Laura Ingraham Interviews Comedian Who Requested Free Coffee From Starbucks As 'Reparations'
Google Lawsuit: Senior Engineer Sought to 'Blacklist Alt-Right Websites' Like 'Breitbart,' Purge YouTube
Syria Says U.S.-Led Strike Destroyed Pharmaceutical Research Institute Working On Cancer Drugs
Norm MacDonald: Alec Baldwin's Contempt-Filled Trump Impersonation Is Not Funny
NEW YORK -- For the lucky few on Wall Street, the Federal Reserve sure was sweet.
Nine firms -- five of them foreign -- were able to borrow between $5.2 billion and $6.2 billion in U.S. government securities, which effectively act like cash on Wall Street, for four-week intervals while paying one-time fees that amounted to the minuscule rate of 0.0078 percent.
That is not a typo.