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John Lounsbury
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John Lounsbury, Managing Editor and Co-founder of Global Economic Intersection, provides comprehensive financial planning and investment advisory services to a small number of families on a fee only basis. He has a background which includes 34 years with a major international corporation, 25... More
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John B Lounsbury CFP
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Global Economic Intersection
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  • Moon Kil Woong
    , contributor
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    I don't think this is necessarily true. Banks have been profiting on the very short term low rates and then using it to loan out at much higher rates. As longer term loans also come down the spread shrinks along with their profit. The only real benefit is if they can dump their existing loans onto someone for again. For them preferably the Federal Reserve or Fannie Mae or Freddie Mac since they don't seem to be so sensitive to not overpaying for what they buy. After all, it's not their money, it's yours the taxpayer.
    2 Oct 2011, 03:41 PM Reply Like
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