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Wednesday, August 9, 2017
Media Cover Up for the Big Banks: High Risk Return Speculation, Fee Based Income
Media Cover Up for the Big Banks: High Risk Return Speculation, Fee Based Income
The big New York banks no longer perform the banking function of lending to consumers and businesses. Thanks to government policies that foster increased financial concentration, banking incentives have changed fundamentally. The big banks today are focused on higher risk-return speculation and on trading and fee-based income.
Banks don’t lend not because, as banks and their lobbyists claim, of new capital requirement rules, but because their ability to lend is foreclosed by the fact that the big banks pay out all or more than all of their net income in dividends and buy-backs of their own stocks in order to drive up executives’ bonuses. The extraordinary payouts of earnings leave the banks’ capital position too weak to support more lending.
Thomas Hoenig, Vice Chairman of the FDIC explained the situation last week to the Senate Banking Committee. Something should be done about it, but the financial presstitutes are suppressing the news.
Pam and Russ Martens tell the story here.
The original source of this article is Paul Craig Roberts Institute for Political Economy
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Anyone is welcome to use their voice here at FREEDOM OR ANARCHY,Campaign of Conscience.THERE IS NO JUSTICE IN AMERICA FOR THOSE WITH OUT MONEY if you seek real change and the truth the first best way is to use the power of the human voice and unite the world in a common cause our own survival I believe that to meet the challenges of our times, human beings will have to develop a greater sense of universal responsibility. Each of us must learn to work not just for oneself, ones own family or ones nation, but for the benefit of all humankind. Universal responsibility is the key to human survival. It is the best foundation for world peace,“Never be afraid to raise your voice for honesty and truth and compassion against injustice and lying and greed. If people all over the world...would do this, it would change the earth.” Love and Peace to you all stand free and your ground feed another if you can let us the free call it LAWFUL REBELLION standing for what is right