The Great American Bank Robbery (financial, banks, lawyer, profit)

[Grandpa Pipes]

"How did the big banks nearly take down the entire economy and still continue to profit? Nobel Prize-winning economist Joseph Stiglitz explains."

The Great American Bank Robbery | Economy | AlterNet

[litlux]

Finally, an objective, dispassionate explanation of the choices made to stabilize the banks at taxpayer expense, and the option ignored, that is to make the shareholders responsible for management's mistakes. Looks like economic policy was to bail out the stockholders, not the country.

It was a solution devised by highly paid and influential lawyers and corporate executives, not common sense. And ultimately, it was the result of a decade of building a financial house of cards that was destined to collapse.

You can't build an economy on middlemen who produce no goods of value in the process.

[Teak]

Originally Posted by litlux

You can't build an economy on middlemen who produce no goods of value in the process.

You have summed it up nicely in just one sentence!