Bankers as Sophisticated Beggars

The Quotation:

“Citigroup Inc. and JPMorgan Chase & Co. were told [by the US Treasury Secretary, Henry Paulson] they would each get $25 billion; Bank of America Corp. and Wells Fargo & Co., $20 billion each (plus an additional $5 billion for their recent acquisitions); the Goldman Sacks Group Inc. and Morgan Stanley, $10 billion each, with the Bank of New York Mellon Corp. and State Street Corp. each receiving $2 to $3. Wells Fargo will get $5 billion for its acquisition of Wachovia Corp., and Bank of America the same amount for its purchase of Merrill Lynch & Co. Inc..”
--- The Philadelphia Inquirer, Tuesday October 14, 2008
(Based on report in The New York Times)

The Comment:

Let us say that Corporations run the world, and banks run corporations. Wall Street is the playgrounds of the banks. Then, the small business owners and the middle class folks are objects that are screwed on the playgrounds.

Let them fall back to what they had been before the monetary inventions: Bankers. Let them fall back to banking and eliminate the gambling aspect of Wall Street: no financial derivatives, no financial instruments, no manipulating innocent people out of their pants, and no nonsense.

The bankers invented these so called instruments to facilitate sucking it to uninitiated ordinary people. Let them give back the millions they have had collected in salaries and bonuses. The banks that are mentioned in the above stated quote are internationals: they are connected by the rays of the sun as it moves around earth (scientifically speaking the earth moves around the sun) from the morning to the next morning, and on again.

Let banks do banking, and let banking be banking, and not horse race on horse race runs.
As a tax paying concerned citizen of this generous country, I want to know when will the bankers pay us back our money, and what is the interest we would be collecting.

Mahmoud S. Audi, Ph.D.
10-14-2008