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Tuesday, October 14, 2014

The Ultimate Oxymoron of Capitalism: Big Banks don't compete for Federal Reserve windfall.

If every other person or company must compete for business, then why do the biggest banks get access to the largest sums of money without competition?

Should it not be that the largest financial institutions must compete to get the loans, to show that they are improving, to demonstrate how they are benefiting the people in order to remain in the position to get the biggest loans?  If not, why would they change?

Even a policy of higher interest rates for the worst offenders would punish the worst run banks. That would punish those at the centre of the worst abuses.