Trading and finance blogger Thomas Tan has well summarized[1] many of the criticisms I have had of the unjust practices of the big banks and their bail-out sugar-daddy, big government. Tan compiles seven specific ways in which these cesspools of toxic financial waste have presented themselves as healthy and robust institutions. The question is, “How do all these big banks, tottering on the edge of bankruptcy just a few months ago, suddenly show billions in profits?” Despite all the positive news about recovery and passing of “stress tests” (double-speak for “buying time” while big government pretends it has the problem under control), banks have hidden a monster of details in the deep dark abyss of unreported news, all in the name of increased transparency. The details carry ominous portents.
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