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#BankLivesMatter: Banks Squirm As Congress Moves To Cut The 6% Dividend Paid To Them By The Fed

This Senate Bill is a step in the right direction. Finally the politicians in Washington have taken note of the generous 6% dividend that the big banks enjoy on their stock investment in the Federal Reserve and have decided to do something about it.

Justice League

Now this is interesting..

Submitted by Mike Krieger via Liberty Blitzkrieg blog,

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? How about the statement showing the interest you’re earning on your mortgage escrow account with the big banks? While the country suffers through the lingering effects of the Great Recession caused by the biggest Wall Street banks, the public typically receives less than 1 percent on their deposits at the big banks, while the government has legislated a permanent, risk-free 6 percent guarantee to the Wall Street banks for…

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