Banks are losing their share in the market day by day mainly due to NPL (Non performing Loans). Banks have ample amount of bad debts.
And, if the Government had done what they really should have done, the banks wouldn't be suffering at all.
Approximately 1% controls 95% of America wealth, while sharing only about 10% of the total debt citizens owe.
Now, that's alot on the banks. However, since they are own by rich people, they can afford to take some losses to go along with bad business practices, which devastated the Economy.
If you're curious, what I meant, in my first statement?
Well, believe it or not, Government could have given EVERY citizen over 18 years or older.....a LUMP SUM tax free $250,000.00 check, to pay down their debt, so the load wouldn't be as burdensome.
But instead, they gave the money to the banks, who continue to leverage and reap huge profits.
PLUS, there are some "businesses" like "Investment" firms and Brokerage firms, which were transformed into banks.
These companies are still operating as banks and haven't returned to their initial business model, due to the crisis.
This is also allowing for huge gains for investors, shareholders, bond holders and the Stock Market overall.
The biggest problem with the bank is that it takes quite a long time and paper works for approval of any loan.
This is where payday loan from money lenders comes into play.
You need to do some reading about how a Fractional Reserve Banking system works and who it benefits.
The Federal Reserve is the root cause of the economic problems. Money is taken from Tax Payers and funneled to a select group of private Bank Owners. Ownership which hides under corporate privacy laws.
The Federal Reserve is a Private Bank and by law gets 6% return on investment. And they don't do anything more than print money and set policy.
So go ahead and feel sorry for banks... uh... that's good thinking. Banks are the problem, not the solution.
When they fail, they should be allowed to go under. If you want to bail someone out... bail out the American Tax Payer not the Wealthy Corprate Bankers.
by Mike Russo 8 years ago
The next time someone tells you that Obama is destroying the economy, remind them that the stock market and corporate profits are at all-time highs.When they tell you that this hasn't helped them, remind them they've just admitted Trickle-Down Economics doesn't work.All comments are appreciated.
by Dean Walsh 6 years ago
Since we hubbers are making our money here digitally, it would be great if Hubpages could send us payments from the ad program in digital currency using Bitcoin, or even better Ripple.Either of these would have lower transaction costs for Hubpages compared to paypal (Ripple is cheapest, at around...
by pgrundy 10 years ago
This is hitting South Bend now, where I grew up. I have a house there with a renter in it that I"m about to lose:http://www.nytimes.com/2009/03/30/us/30 … y.html?hpwIt's so bizarre. The industrial midwest is getting really, really bad.
by Gary Anderson 9 years ago
Here is an eye opener and shows that you and I are getting ripped off by the banksters continually. Park the car until the prices come down. And even then you have to just kill demand. Anyway, here is proof that the speculators are hurting mainstreet USA just like they did when they set up the easy...
by SparklingJewel 11 years ago
a three hour video on the money situation...the why and howhttp://video.google.com/videoplay?docid … 256183936#
by SparklingJewel 11 years ago
Please, I am always looking for perspectives if any one has one I am trying to learn and understand how there can be such divisive differences in how people handle money and an economy.http://www.voteronpaul.com/newsDetail.p … -Know-2058
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