Saturday, December 26, 2009

Who is Paying?

At Tiny Rates, Saving Money Costs Investors -
"Experts say risk-averse investors are effectively financing a second bailout of financial institutions, many of which have also raised fees and interest rates on credit cards.

“What the average citizen doesn’t explicitly understand is that a significant part of the government’s plan to repair the financial system and the economy is to pay savers nothing and allow damaged financial institutions to earn a nice, guaranteed spread,” said William H. Gross, co-chief investment officer of the Pacific Investment Management Company, or Pimco."

This is the Obama-Geithner "Plan" to save Too Big To Fail, in action.

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