The fees will be in the MILLIONS, readers.
Hey, think of it as ADDED COSTS to the $700 BILLION BAILOUT of Wall Street!!!
"Treasury hires State Street to run securities program
The US Treasury hired State Street Bank and Trust Co. and Barclays Bank PLC to manage its mortgage-backed securities purchase program that was disclosed last month. The firms got two-year contracts that can be extended for up to three years. They will receive fees of 3 basis points for the first $5 billion in assets under management, 2 basis points on the next $5 billion, and then 1 basis point above $10 billion (Bloomberg)."
What does a basis point = in terms of CASH?
"A basis point is 1/100th of 1%. Thus, an M&E charge of 115 basis points means a fee of 1.15% will be assessed against the value of the investment."
Let's see:
.03% of 5 billion = $150 million
.02% of 5 billion = $100 million
.01% of ? billions = ?
Not BAD WORK for MANAGING a LOOTING of the American people, huh?
You got fucking TOOK, folks!!!
