Allamad

Bank of America's Gain Is Taxpayers' Loss

Compared to what the banks are making by having the Fed keep short term interest rates artificially low this is small potatoes. They take this money and loan it out at substanially higher rates thanks to the steep yield curve. Citicorp is now at 29.99% on the outstanding balance for credit cards. The real losers and the ones subsidizing the banks are the people who save, pay taxes and play by the rules. I've shifted most of my money (besides that in bank stocks) to emerging market bonds and currencies.