Here’s a story about a bank that failed, got rescued, was resuscitated, and made its private equity investors more than 100% on their money, all the while costing the FDIC around $5.9 billion.
In his recent State of the Union Address, President Obama unveiled something new: a retirement savings account to “help” Americans build a nest egg, coining it the “MyRA.”
Central banks may have foolish policies, but central bankers are no dummies.
