Fed Lends Millions to Well-Connected Wives

This story is by Matt Taibbi, so you should expect some hyperbole, but the basic facts are that two well-connected Wall Street wives, with no financial experience, managed to get $220 million in low interest loans from the Fed. They then invested the money in higher yielding securities, essentially minting money on the spread. And they still haven’t paid back $150 million of their loan.

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