Sunday, July 22, 2012

Fwd: The Banks

One should ask why it's anyone's business how much the banks make?  They are like any other business who is responsible to their shareholders.  It might also mean an increased demand for banking or that non-banking profits are way down.    You might as well question why Apple is so profitable. 

The obvious answer might be that they are government subsidized, in which case, if they are so profitable, why do they need a handout?

From: al grotz 

This is exactly what's wrong with our system.
This quote is an excert from an article in the Deseret News online today:
(The Deseret News is one of the two major newspapers in Salt Lake City.)
Finally, the issues of inequality seem to be exacerbated by excessively high returns to the financial sector. "From 1973 to 1985," writes Simon Johnson, "the financial sector never earned more than 16 percent of domestic corporate profits." During the first decade of the 21st century, however, Johnson notes how the financial sector's portion of profits reached 41 percent.
Thomas Jefferson warned us what would happen if the banking system was allowed to become what it is today.
They have reached the point where they control everything including our politicians... to their own end.
They break the rules, they take risks, and when the risks go bad, they get bail outs (i.e. we the common taxpayers
pay for the loss so that they can still make their profit.)
More and more the banks are controlling us to their own end.