Laughing all the way to the BANK
According to the Economist online...
"LIFE has been good for American banks. Low interest rates, a roaring mortgage market and borrowing by the spendthrift American consumer have sent money washing into their coffers. According to the Federal Deposit Insurance Corporation (FDIC), one of America's many financial regulators, banks chalked up $135 billion in profits last year, their fifth consecutive year of record earnings..."Unfortunately, I can't tell you what else they have to say about American Banks, since I must pay to find out--which I will not do because the message is crystal clear.
While Americans are struggling to pay increased interest on their student loans and home mortgages, American bankers are raking in the dough and laughing all the way to the bank.
And, they're not through with us yet. When it's all over, we'll be scraping for money to buy our daily bread.