In order to protect their multi-billion-dollar bonuses and bank profits -- which have bounced to record highs since that financial crisis the banks helped create, a crisis from which the Fed and the American taxpayer bailed them out -- banks will sadly have no choice but to punish their customers. Thats not all: The banks say that, without that interest payment, they might also be pushed to take ever-crazier risks with money that was once safely parked at the Fed, the FT reports. Stop us before we kill the economy again, the banks are saying. And by stop us, they mean, give us all of your money. - Mark Gongloff.
Posted on: Sun, 01 Dec 2013 04:33:07 +0000