Thursday, June 30, 2011

How To Get Paid To Do Nothing, Part 2: The Easy Billionaire

This is so funny. It's like my original post, only better. I only wish I had thought to write it up myself because I've often shared these specific sentiments with others but never bothered to blog about it. I'm sure others have, as well.

I found the write-up via Ragnar Is A Pirate, but original credit goes to Business Insider, how to become a billionaire in the easiest way possible, courtesy of the Fed:
STEP 1: Form a bank.
STEP 2: Round up a bunch of unemployed friends to be "bankers."
STEP 3: Raise $1 billion of equity. (This is the only tricky step. And it's not that tricky. See below.*)
STEP 4: Borrow $9 billion from the Fed at an annual cost of 0.25%.
STEP 5: Buy $10 billion of 30-year Treasuries paying 4.45%
STEP 6: Sit back and watch the cash flow in.
There are a few more steps, you'll want to read the rest if you enjoyed these or would like to learn more about how you, too, can get paid to do nothing and thereby become a billionaire banker.

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