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The initial £7m funding was borrowed on Thameswey's behalf by Woking council, which then lent it back to the company at 2% above the going interest rate.
The report reinforces long-held beliefs that the banking system in essence engaged in taxpayer-financed arbitrage: They got money for free, then lent it back to Uncle Sam while collecting juicy returns.
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A retail bank borrows your money, combines it with other deposits, and lends it back out to larger projects.
I have since contacted the seller, told him what treasures were on the film, and offered to lend it back to him when he finally gets a projector.
So we have a circular system where the government lends (or buys stakes) in the banks which then lend it back to the government in the form of gilts.
In 1954, when the museum moved from West 8th Street to a new building in Midtown Manhattan, it sold the work to the New Britain Museum of American Art in Connecticut, which is lending it back to the Whitney.
Last year, when the firm made a one-of-a-kind enamel dome clock to honor the opening of its boutique in Beverly Hills, California, Mr. Ruvelson was first in line to buy it, even though he lacked a space for the clock in his own home and ended up lending it back to the boutique, where it remains on semi-permanent display.
Thanks to QE, it is hard to be sure.Banks have also been big buyers of government bonds in the past couple of years because of the "carry trade": they can borrow money from the central banks at low rates and lend it back to their domestic governments at a higher yield.
He's ready to lend it back, he says, if Keith and Ron feel they will want it next time they're on the road (there are rumours of a belated jubilee tour next year).As an amateur photographer for Ferrari, Mr Schröder met Nick Mason, a drummer and songwriter for the band Pink Floyd.
Our money goes to them, they lend it back.
Because the core business of banking is taking in money at short-term interest rates and lending it back out at long-term interest rates.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com