Michael Lewis knows the game pretty well. This ought to be a good interview on 60 Minutes this week.
The big Wall Street banks "have access to a zero percent loan in virtually unlimited quantities from the Federal Reserve. You can take that money and reinvest it in Treasury bonds or government agency securities and you will get the spread and you could do it over and over," he said.
"You're essentially borrowing from the government ... and taking a cut," he said.
