Washington’s capacity to foster crony capitalist larceny and corruption never ceases to amaze. But according to the Bloomberg story below, Wall Street’s shameless thievery from US taxpayers is about to get a whole new definition.
To wit, Freddie Mac is handing
three private equity billionaires deeply subsidized debt financing in
order to undertake $18 billion in rental apartment deals. According to
no less an authority than Morgan Stanley, the subsidy embedded in this
cheap financing amounts to 150 basis points or roughly $150 million per
year on the loan amounts in play.
No comments:
Post a Comment