The banksters took to the G-20 meeting to whine that they are so misunderstood for melting down the global economy.
To paraphrase the remarks of the CEO of CitiBank: "Waaa, nobody loves us."
One funny thing is how the banksters think that they "create wealth". No, they don't "create wealth". They move money around and engage in Enron-like schemes to create artificial scarcities. The California electricity crisis, the housing bubble and Bernie Madoff are examples of that.
Wealth is not created by bankers. Bankers make capital available to those who have ideas for businesses that will make money. Money is made by those who make things: They create things, they make things, they grow things or they mine things. More money is made by the people and businesses which exist to get those things into the hands of the end users. The capital provided by the bankers helps to do that.
But make no mistake about it: Bankers, in and of themselves, do not "create wealth".
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3 comments:
Come on, sweetie.
You're going waaaayyy toooo lightly on them.
After all, they certainly created their wealth.
Love ya,
S
They didn't "create" their own wealth. They took a cut of the action from those that did.
Whether that can be described as a "commission" or as "theft" depends on the circumstances.
Okay. Theft it is!
But you gotta admit that the financial scheme ("trickle down on the masses") they had in place (which has only been "enhanced" since) and ready to go before Raygun stole the election from Carter with the price-skyrocketing oil embargo and hostage shenanigans was nothing but a wealth-moving structure (from the bottom to the top) which created lots of the wealth that they have today.
And, yeah, there's lots more to that historical take, but I think that suffices for now.
S
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