Corrupt wheeling and dealing

How come the banks are making money and paying out huge bonuses? Because we the taxpayers are being swindled thanks to a corrupt Obama administration. Henry Blodget explains how you too can make $400 million dollars a year risk-free (to yourself: the taxpayer carries all the risk):

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