I’m SORRY. But it’s true. Wish it were not. Read the following re-posted from the excellent www.nakedcapitalism.com and then explain to me why I’m wrong! “Barclay’s Bob Diamond to Non-Bankers: Drop Dead”.
Banks are net extractors of wealth. You know: the fees, the interest rates, the bailouts, the bonuses, the austerity, the union breaking, the China to Walmart conveyor belt, the exporting of jobs… Even in Canada they soak up a lot of resources that would be more useful elsewhere and believe me with the helping hand of the right government they will eventually be allowed to merge and expand and catch up with the Banking Leviathans that are doing everything in their might to keep the World gorging on a mountain of debt. I have no solutions to offer except that being aware of it and being right fucking pissed off about it is a good start.
Have a great day everyone!