Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: SouthFloridaGuy who wrote (89522)	11/1/2008 4:18:17 PM
From: Dan3	5 Recommendations of 116555

Re: But don't punish those below with goose eggs, especially in this economy. Nobody's being punished, but this industry needs to be radically restructured. Their economic function is to accept deposits from savers/investors and invest those dollarst. For performing that function, they're skimming (IIRC) some horrible fraction of the total profits of the economy - something like 15%. It should be more like 1%. It's a pure overhead function - they're charging 10+ times more than they should be PLUS they're doing a godawful job on top of that. What's going on is like the cashier at a grocery store keeping $20 of every $100 that he rings up - it's ruining the real economy.

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