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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Skeeter Bug who wrote (106765)1/18/2010 6:35:03 PM
From: Hawkmoon1 Recommendation  Read Replies (1) of 116555
 
Skeeter,

We have to analyze the importance of US banks along the following lines.

Are they contributing to the economic prosperity of the US, or are they taking advantage of favorable taxpayer-backed debt to generate their profits.

Until I see banks actually making profits from private lending, rather than taking cheap Federal Reserve money and "investing" in taxpayer backed debt, I think we have every right to limit their extraordinary bonuses.

Of course, there's the caveat that the US Treasury/Congress has a major onus to take those borrowed funds and EFFECTIVELY invest them to promote private sector growth and productivity.

Hawk
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