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That is the thing...........nobody cares. Most importantly the government doesnt care...........the ones who are supposed to monitor the banks. We..the US citizens.....are being raped of our wealth and nobody cares. I'm done myself. I'm getting a lawyer and will milk four or so years outta my mortgage, run up my credit cards and claim bankruptcy, and in seven year start over. I'm tired of being raped financially time for me to get back.
That is the thing...........nobody cares. Most importantly the government doesnt care...........the ones who are supposed to monitor the banks. We..the US citizens.....are being raped of our wealth and nobody cares. I'm done myself. I'm getting a lawyer and will milk four or so years outta my mortgage, run up my credit cards and claim bankruptcy, and in seven year start over. I'm tired of being raped financially time for me to get back.
I am not sure what you mean by govt caring or monitoring. The govt is the controlling shareholder of these banks. They are making them large sums of money. Money they don't have to share with you. They seem to care about their profits, certainly seem to be monitoring as well. That is what corporations do.
No. Doubt many are. However, good to know specifics, especially where money is concerned.
This is interesting.
quote:
The big banks no longer do very much traditional banking. Most of their business is from financial speculation. For example, less than 10% of Bank of America’s assets come from traditional banking deposits. Instead, they are mainly engaged in financial speculation and derivatives. (and see this)
I am not sure what you mean by govt caring or monitoring. The govt is the controlling shareholder of these banks. They are making them large sums of money. Money they don't have to share with you. They seem to care about their profits, certainly seem to be monitoring as well. That is what corporations do.
Like I said it is an impressive list though.
I guess you haven't heard of the SEC.......
"The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation."
"The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation."
Neither have the banks. LOL
They seem to be protecting investors. The govt is the investor, so are the banks. SEC is protecting them just fine. They are raking it in, so are the banks. The banks know who their controlling shareholders are surely. Fair, efficient and orderly are rather subjective.
So there is enforcement, but it is inadequate because of excessive anti-regulatory sentiment.
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