March 14, 2007
Sub Prime Loans and the Greed and Waste in U.S. Banking
Sub Prime Loans Sink Market! - Why is anyone surprised?
SHODDY BANK FINANCIAL PRACTICES ANNUALLY WASTE or SPILL the COMBINED REQUIREMENTS of MEDICARE and SOCIAL SECURITY
As regularly as the sun rises in the East, capitalism, as practiced in America today, spills, wastes or loses more financial resources every year than the total requirement of Medicare and Social Security combined.
From pure greed comes excessive risk taking.
The U.S. financial industry regularly goes on speculative binges that enrich work-a-day bankers and thieves alike until the (as always predicted) pyramid-like lending excesses end in catastrophe.
I recommend the enactment of a Value Added Tax mechanism. Add a one hundredth of one per cent tax on all financial transactions. Presto, the social programs for the average Joe and Jane would be well funded.--Who do you think (always, always, always) has to replace the lost capital in the banking sector or otherwise pay for the shoddy greedy self serving financial excesses in the first place? You guessed it, the same Janes and Joes that get sucker punched with the old, "Gee whiz, there just doesn't seem to be any money left over for you."