the only thing I really understand is that banks and financial entrepreneurs make profits from shuffling money around and actually do nothing to add real value to the economy. Those profits don't come from thin air - they are actually bleeding wealth away from the productive parts of our economy in the process.|
Right now banks are making record profits, and IMO that is stifling the growth and recovery of our economy. The Bush administration gave the banks $800 billion in 2008 to bail them out from impending failure. It worked, but now the banks are just accumulating profits rather than spreading it around and that's repressing our recovery from the recession.
We can't just let banks do this without any regulation, and IMO that's what the banking reform bill is all about.
Edited by ghoti (05/27/10 10:02 AM)
Feisty survivors populate this site. Avoid controversies unless you have a very thick skin.