We Aready Know No One WIll Go To Jail

Because no one on Wall Street ever does.

Special Report: Pimco shook hands with the Fed – and made a killing,

* In December 2008, the Fed hired Pimco, along with three other big Wall Street firms, to implement enormous purchases of agency MBS to keep interest rates low and spur the U.S. economy.

* Over the next few years, Pimco repeatedly invested heavily in those same securities – far more than other big investors, even considering its size.

* Pimco’s mortgage plays in 2009 and 2012 – when Fed buying was heavy – handed the firm and investors in the Total Return Fund a gain of $10 billion, excluding net investment flows, according to Reuters estimates.

PS I also mean people at the Fed should go to jail for this.

But we already know they won’t.

Another PS – $10 billion could but nice things for We the People. But it won’t.

1 thought on “We Aready Know No One WIll Go To Jail

  1. Pingback: Reuters Special Report: Pimco shook hands with the Fed – and made a killing — State of Globe

Comments are closed.