IOER: The Most Outrageous Banker Welfare Yet

At a current rate of about $36 billion a year, this is a cost to the Treasury that is indefensible. This amount is about half the budget for food stamps, for example, which politicians want to cut. There is no provision for these funds ever to be paid back. It is welfare for the bankers.

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https://www.zerohedge.com/news/2019-05-04/fed-will-give-banks-36-billion-taxpayer-funded-subsidy-year