Yellen admits the open secret

“The Federal Reserve has gone from remitting to the Treasury a few $Billion dollars a year to now over $100 BILLION which helps fund the government itself.”

In other words, Bernanke was subsidizing government interest costs, abut half  a quarter of the interest payments we owe are paid by the bond market, its a tax.  

What are the investment banks doing in response? Laying off the fixed income traders and agglomerating even more.  Hence, Congress, unable to meet its interest payments, is causing more consolidation of the debt cartel.