Political Nutz

Observations on the pathetic state of American politics

System is “Rigged in Favor of America’s Banks and Bankers”

Once again I find myself agreeing with David Stockman. In an interview for “The Daily Ticker”, Mr. Stockman asserts that current economic policies favor the financial industry at the expense of the middle-class workers.  This is no surprise to those of us hit with monthly fees on our checking accounts that pay a measly 0.1% interest while the Federal Reserve is giving money to the bailed out banks interest free.

Stockman says, the Fed’s lending policies turn

capital markets into a rip-roaring casino that really is not productive for the real main street economy and is generating windfall gains for to a very limited number of people for no good purpose
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