This is an excerpt from an article by Mike Larson at www.MoneyandMarkets.com:
“You have to appreciate the irony here. The Fed is trying to extract money from Bank of America … a bank that received tens of billions of bailout dollars from the federal government and that has been artificially propped up by the Fed’s easy money policy! And the money management firm that’s going after Bank of America, BlackRock? It’s 34 percent owned by Merrill Lynch, which is … you guessed it … a Bank of America subsidiary! You can’t make this stuff up.”
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