Wall Street banks might get their 6% risk-free return from the Federal Reserve eliminated

08/03/2015 - 15:44

Michael Krieger | @LibertyBlitz


On December 23 of this year, the Federal Reserve will be 99 years old. And throughout that 99 years, regardless of boom, bust, recession or Great Depression, the biggest Wall Street banks have been enjoying a 6 percent, risk-free return on the capital they hold at the Fed in the form of dividends.

Have you looked at your checking or money market bank statement lately from JPMorgan Chase or Citibank?

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