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There can be no meaningful and sustained economic recovery until the banks are restrained and broken up. But when they have become so big and powerful that the "own" our government and regulators, don't hold your breath. Just prepare for the inevitable collapse that their greed through their "financial innovation" will continue to cause. It's not a matter of "if", it's a matter of "when". Have a read, if your stomach can handle it:
A Secretive Banking Elite Rules Trading in Derivatives
http://www.nytimes.com/2010/12/12/business/12advantage.html?_r=1
A Secretive Banking Elite Rules Trading in Derivatives
http://www.nytimes.com/2010/12/12/business/12advantage.html?_r=1
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the bankers have been pulling the strings since Alexander the Great was in short trousers.
Interesting article. This is the most important part in my view:
The banks in this group, which is affiliated with a new derivatives clearinghouse, have fought to block other banks from entering the market, and they are also trying to thwart efforts to make full information on prices and fees freely available.
Free markets and fair competition and openness are the way to go.
The banks in this group, which is affiliated with a new derivatives clearinghouse, have fought to block other banks from entering the market, and they are also trying to thwart efforts to make full information on prices and fees freely available.
Free markets and fair competition and openness are the way to go.
.
http://www.stansberryresearch.com/pro/1011PSIENDVD/LPSILC42/PR
http://www.stansberryresearch.com/pro/1011PSIENDVD/LPSILC42/PR
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