Kucinich Is Outraged
In rare footage, we see the Federal Reserve Admit to paying extra interest rates to banks to park TARP funds, over and above what interest rate they could gain from the market by lending them. The end result? Banks are forced to park the TARP funds at the expense of businesses, which affects unemployment directly. Their reasoning? They want to keep inflation low.
Unemployment is now at 35% among those Americans who make under $20,000 a year. Making credit unavailable for businesses, knowingly raises unemployment. They know that businesses will make the only rational decision, lay off more workers.