"But Taibbi really goes to town on the $220 million loan made to the wives of two Morgan Stanley execs, who had no visible investment experience. These millionaires were given another $220 million of tax-payer money, at rock-bottom interest rates, without any requirement to pay it back. They used it to buy up securities that the Fed had bought from Morgan Stanley (the pricing for these transactions remains a secret, as the Fed refuses to disclose it). These securities -- mortgages, student loans and so on -- have paid out handsomely for their new owners, but they have still not repaid $150 million of the tax money they were given to buy them."
http://www.boingboing.net/2011/04/13/historical-first-loo.html
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