And we did this in a more indirect manner by having the Fed engineer these super-low interest rates that were a transfer from savers to the financial system. Economist Ed Kane said that basically savers lost $300 billion in income a year. So that reduction of income right there, you see today.
a lot of people have a general sense of the bailout, but most people don't realize how blatant of a transfer of wealth the interest rate policy described above really was.
absolutely fukking insane. a literal license to print money.