Power & Market
Author:
Alex J. Pollock
Paul H. Kupiec
Online Publish Date:
[A new article by Mises Senior Fellow Alex Pollock and Paul Kupiec at the Wall Street Journal ]: Taxpayers are bailing out Federal Reserve member banks—institutions that own the stock of the Fed’s 12 district banks—and hardly anyone has noticed. For more than 100 years, our central-banking system has made a profit and reliably remitted funds to