Tuesday, March 30, 2010
This is How Insanely Greedy Unregulated Capitalism Has Become
Just a couple of years ago the American Bankers Association, "acting on principal,"... "said that policymakers should separate safety-and-soundness and consumer protection." Today they "argue that shifting consumer protection to a new agency, solely charged with protecting borrowers from abusive lenders, would irreparably hurt the nation's banks. Their argument is that by protecting consumers from particular products the new agency could have a detrimental effect on bank profitability..."
In other words, the profit making capabilities of big banks RELY on deceiving the american public into purchasing their risky products!! Apparently they can't make enough bucks the honest way........