Wrong on so many levels, the reality of the situation is that the banks are saying that we are for profit companies and we won’t just sit here and make nothing.
Don't you mean, "we are for profit companies and we wont just sit here and make nothing no matter how badly we screw up, because we're too big to fail"
The banks are only surviving because of the ‘free money’ that the Fed keeps sliding over to them. Every American....from a retirement prospective...is suffering because of bad CD rates and easy cash for the banks. The difference between now and 1929....we’ve kept the banks functional with the Fed money and the rate. We would have done quiet well in 1929, if we’d attempted this same gimmick....at least for a couple of years until reality sunk in.