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Originally posted by seberhar
So I was reading an article today (link at the bottom of this post) about how the federal reserve fined Wells Fargo $85 billion for forcing expensive loans on people who did not qualify. Obviously this is not shocking, all banks do this. It's commonplace unfortunately. Now my question is, where does this $85 billion go? Saying "it goes to the FED" is a very general statement. Does it go to the shareholders of the FED (aka the international bankers) or does it go somewhere else? ***NOTE MODS please move if this is in the wrong thread. Thanks!!
Article on FED fining Wells Fargoedit on 21-7-2011 by seberhar because: (no reason given)
So the real question here is who gets the money the fed makes, you know, the 1-14 % interest on EVERY SINGLE DOLLAR ISSUED. Thats a good question. I think it goes to the shareholders of the fed, does it not?