| Topic: | Re:Re:Re:Re:Re:Re:Bashing the bankers? | |
| Posted by: | Wilbur Maxino | |
| Date/Time: | 10/12/09 16:34:00 |
| I think the issue here is the nature of those profits. If these profits were made 'normally', ie during the natural course of business, then fair enough. The problem is that the the profits the banks made this year are 'abnormal' in that they are from the BOEs lose monetary policy (zero rates), and the public money pumping up their balance sheets. Since these profits were only made possible by these two interventions (and thus 'abnormal' profits), I think it's only right that they should use a part of those profits to pay up the treasury. |