Banking, finance, and taxes
Fed Puts Spies At Brokerage Firms (GS)(MS)(BSC)(MER)(LEH)
Published:
The Fed does not want to see all the money it has give to brokerages in exchange for lousy paper to go down the toilet so it has stationed its own personnel in the firms to keep and eye on things.
According to The Wall Street Journal "For the first time in more than a decade, the Federal Reserve has set up shop inside brokerages to monitor their financial condition" Bernanke has been reading George Orwell’s "1984"
The sleuths are stationed at Goldman Sachs (GS), Bear Stearns (BSC), Morgan Stanley (MS), Lehman (LEN), and Merrill Lynch (MER).
It is too much to hope that they will not find anything.
Douglas A. McIntyre
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
