It looks a lot like the Fed is putting a big bank’s interests over those of taxpayers, Jonathan...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

It looks a lot like the Fed is putting a big bank’s interests over those of taxpayers, Jonathan Weil writes, as it supports Bank of America’s decision to shift derivatives into a subsidiary filled with federally insured deposits. Fed priorities seem to lie with protecting BAC from losses, even if it means greater risks for the FDIC’s insurance fund - and taxpayers deserve to know why.