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View Diary: News From Seven Continents. And Not a Word About the Sequester. (12 comments)

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  •  The question is why do we pay interest to (1+ / 0-)
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    jpmassar

    people who hand us dollars they aren't using for safe keeping?
    Presumably, offering to hold their spare dollars for them does bring them back to Washington, but is it really necessary to pay a premium? If one leases a lock box in a bank's vault, one has to pay the bank rent to keep one's treasures secure.

    I do not begrudge banks management fees and an assessment of the credit worthiness of borrowers involves research that deserves to be paid.  But, if we are to believe reports, the banks are in the habit of passing out unsecured loans to rich cronies, while working stiffs get stuck with 23% on credit cards.

    From time to time, the money changers still need to be whipped into shape.

    We organize governments to deliver services and prevent abuse.

    by hannah on Sat Feb 23, 2013 at 10:40:13 AM PST

    [ Parent ]

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