20 Large Banks In Trouble
The latest report from Weiss Group ( see here) shows 20 of the largest banks in America could fail. The ratings for these banks appear very weak. One might ask, “What did the banks do with their bailout money?” Evidence reflects they may have used taxpayer bailout money to invest and profit take for their bank and/or possibly CEOs while raising credit card interest rates and stiffening loan qualifications for the taxpayers who bailed them out.
Don’t get me wrong. Is it a bad thing to require loan applicants prove they have the money, credit rating and income to pay for a mortgage on a property? I say no, it is not wrong. When customers with good credit scores, good payment history and solid performance have to pay the way for credit weasels through higher interest rates and
when banks profit through investing using taxpayer funds, ya gotta love the federal reserve system.
Clearly the international bankers profit taking is not and I repeat not because of the free market system, it is the federal reserve system. The Federal Reserve is not a government agency yet it does business with the federal government. Congress has the authority to coin money through the US Treasury so why have the Federal Reserve? Why have a bunch of international bankers fix our money issues causing inflation, deflation and recessions?