Loading ...There is a difference in fact a number. First one is the banks are making nothing/loseing huge money, as income is near zero…no-one wants their mad derivatives in the real world, the books are only growing due to trading between themselves and hedge funds. They can only try to make money trading and most can’t. But what is killing them is the salaries/bonus’, they are still paying themselves fortunes and thus have hollowed out the banks.
This is why say B o A are stealing off their own customers and paying off the perp $ 125 million, the last money source is their own deposit base. My wife and I have both had decades old preferential overdraft rates cancelled next year and replaced with ones at 19 % pa !!!!!! with a base rate of 0.25 % !!!!!!! This is from RBS, the PoS that taxpayers still own and bailed out for £ 45 billion. No reason given, it won’t hurt us, we can live without it, but people who are unable to pay it off, will be killed.
So the banksters are now desperate, as the game is near over, such amoral thugs will likely panic much more easily than in 2007/9, as they know they have little time to steal their wedge and politically bailouts are impossible…..I would not want to be down wind of any City/Fall st out houses !!!!!!!
Cheers