41% less pseudo profits; 41% less illegal gambling scheme profits; 41% less is still too damn much!
Screw them, let them try working for damn living - making something with their hands, working in a damn coal mine, laying a life on the line to protect someone, providing a real service like a waitress, line-cook, bus driver, plumber, forklift operator, or a nurse --- and let them see how much profit is in working for a living. Not much.
Let them be satisfied with 3% on a regular savings account in a real bank, a community bank -- where that money might actually help a neighbor send his kid to college, finance a home, replace a roof, or to buy a reliable car to get back forth to dialysis treatment -- just like the rest of us.
From the NYT:
http://dealbook.blogs.nytimes.com/...
Goldman Sachs could lose up to 41 percent of its earnings if Congress approves tighter regulation of the derivatives market, according to an analysis by Bernstein Research. That’s equivalent to wiping away $3.9 billion in Goldman’s earnings this year if the stricter regulations were in effect for the entire 12 months, according to a subsequent analysis of the numbers by DealBook using Bernstein’s 2010 earnings-per-share estimates.
Other major banks, including Citigroup, Morgan Stanley, JPMorgan Chase and Bank of America, would also withstand cuts of billions of dollars in their earnings if the derivatives rules currently being considered by the Senate are put in place.
Their reward has and continues to exponentially exceed their non-existent risk. If their risk is 0% - it's all f^cking profit; and in their alternate, insulated, insured, bailed-out universe of Wall Street, even a loss mutates into profit.
If they were truly capitalists, they'd know that only true risk deserves the reward of profit; this risk was all OURS, and when it went bad we had to eat it. Hell, it was jammed down our throats like cod liver oil --- the cost was our financial well-being --- our homes or home's value, our jobs, our 401ks and our tax dollars to bail them out.
Let them eat cake? No, better yet, let them eat the damn crumbs.