Skip to comments.How Obama Bought Off The Big Banks (and vice versa)
Posted on 11/08/2011 11:54:14 AM PST by Driftwood1
Occasionally the Washington Post does some real reporting. Yesterday Zachery Goldfarb did an analysis of the aggregate profits over the past three years for the major banks and financial institutions as compared to the eight years of the Bush administration. The finding: these firms have accumulated more profit in the three years of the Obama administration than they did in the two terms of George W. Bush.
In an interview with Mr. Goldfarb on NPR when asked what kind of companies and how this happened, replied:
We're talking about banks, the big ones you've heard of, Citigroup, Bank of America. These big banks have done well coming out of the crisis. The Wall Street firms most people haven't heard about, which are either independent companies [such as Goldman Sachs] or the securities arms of big banks [such as Merrill Lynch], have done even better.
(Excerpt) Read more at americanthinker.com ...
If these banks have payed that money back.......where did the money go?
A majority of American bankers are very much Liberal and very much crony capitalists at the same time. They want their profits both ways - in tax favors and in heavy regulation that hurts their junior competitors more than it does them.
Now, “too big to fail” simply places the largest U.S. banks in the same league as Freddie and Fannie - their level of risk-taking will now take into consideration the fact that the U.S. congress will guarantee that “next times” bail outs will happen and no quibling Congress will be needed to approve them.
and some on this board continue to wonder why I’m convinced anti-banker populism is the next coming wave in our political environment