Banks are Busting it, Not Going Bust
America's biggest banks have hardly ever done better!
Banks are booming, not busting. At least, if they are America’s biggest banks they are booming. Four of the largest banks in America reported today, and they are doing FANTASTIC because of rising interest rates. Not suffering the same accelerated deposit withdrawals as smaller banks, they don’t have the same problem offloading low-yield bonds to pay out depositors, so higher interest rates mean they are making a lot more money.
That also proves the greedy megabanks, bloated with profits, actually could, contrary to what you’ve read, afford to pay depositors a lot more interest on their money if they had to in order to maintain deposits. However, until forced by fleeing depositors to do so, they are just banking the difference between the low interest they pay out on deposits and the much higher interest they are making on safe investments as their executives are laughing all the way to the bank on their morning commutes. Right now, depositors are running to them thanks to Yellen & Co. Infinite Deposit Insurance, available only at your biggest banks.
While their stocks all leaped upward this morning, the Street, in general is not so happy today and is seeing some turmoil as stocks in general fall in spite of the whirlwind of positive news from the nation’s biggest banks.
Another fall in the offing is the fall guy for the massive and embarrassing and trust-shattering and revealing Pentagon high-security leaks. While the Pentagon is rightly indignant against the ego-drive, low-ego peon the FBI has arrested for acts that may border on treason and that could put the little guy in prison for life, one has to wonder if all the military brass and other intelligence and security officers who are so outraged will apply the same rage and retribution to their own company for running such a shambles of a military secret security system that a low-level IT guy could make hamburger out of it. Or will they focus on their fall guy to cover their own posteriors?
As some former security officials are saying, this big leak has placed the US in a position where no allies are going to want to trust the United States’ rickety intelligence security. It is not like this if the first major leak. It seems to be an annual affair. Who are really the biggest ones at fault here? The little guy who broke through the billion-dollar system or the military morons who run it? Looks to me like some brass should get plucked.
(The headlines for these stories are in boldface type amid the many other headlines below from today’s biggest news stories.)
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