Posted on 04/22/2016 5:10:50 AM PDT by expat_panama
With all the fat-cat bashing from Hillary Clinton and her socialist foe Bernie Sanders, you’d think big banks have never stopped ripping off the poor, downtrodden consumer and are laughing all the way to their own bank vaults at Americans’ expense.
The banks, of course, still make money, though increasingly a lot less... ... once-massive industry of huge profit margins and immense power in political circles is in retreat....
...New regulations like Dodd-Frank, championed and imposed by President Obama and his minions, don’t let banks perform simple tasks...
...on top of the countless billions of dollars in settlements banks are still coughing up for alleged misdeeds that may or may not have happened years ago. Banks find it easier and cheaper to just shell out the cash than fight...
...Here in the nation’s welfare-state capital (New York City) finance jobs account for more than 20 percent of private-sector wages, and more than 11 percent of all jobs are in some way related to finance. Much the same goes for the state...
... less of this money is making its way to pay for the goodies our local pols love to hand out.
And things are likely to get worse. Even as the Dow has reached a record 18,000 plus, banks like Goldman Sachs and JP Morgan have announced disappointing earnings...
...Then there’s the impact on city and state finances. The economies of New York City and state may have rebounded from the worst of the Great Recession, but given the massive size of their budgets, city and state coffers are always just one small economic downturn away from a massive deficit. ...
(Excerpt) Read more at nypost.com ...
Tx! [downloading the video] Love the title: Trump: Don’t break up big banks, get rid of Dodd-Frank
Like I always say, Trump really does have a lot on the ball...
The only thing extreme here is your ignorance.
The fiat-paper money we have now has not been demanded by anybody, and it in fact represents a relatively recent betrayal.
Historically the US dollar was backed by silver and gold. Today, it is backed by debt. The transition is as recent as 1971, when Nixon closed the gold window in response to French demands to get their gold back.
Backing currency with debt is the extreme position, and saying anyone but the banks and the government wanted things this way is completely unfounded. At no time ever has there been a popular movement in support of debt-backed currency.
https://www.yahoo.com/news/trade-deal-foes-plan-major-german-rally-eve-052441697.html
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