Originally posted by TreadUpon
He also said (paraphrase here) You don't have a job? You aren't rich? Blame yourself not the banks.
the banking institutions dont have to work for money though, nor does the federal reserve or its beneficiaries.
the fed lends the banks money, who get to turn around and lend it to the serfs (american citizens) for a higher interest rate than they themselves
borrowed it at.
also they get to borrow money from you or i, when you deposit it, and reinvest it for even more money. because of the sheer scale of their borrowing
they can get much higher returns on their investments than you or i could with a $1500 available balance.
so what you say, take your 1500 and invest it into a business? unfortunately for the serfs, our investments arent backed by the full faith and credit
of the united states.
so what it all boils down to is that the too big to fail banks are given money on a silver platter. the fact that they could fail at all is a
testament to their profoundly incompetent, greedy, and corrupt executives, and government policy makers that allowed it to happen are complicit of
course, and probably profited themselves, herman cain included.
edit on 6-10-2011 by snarfbot because: (no reason given)