Wednesday, June 1, 2016
Sperm Banks
AITOOW thinks it would be a great populist talking point to lambaste banks for not passing on the rate increases by the Fed to savers? They are adding it on to borrowers. I understand that they aren't doing this because they are flush with cash. No doubt another unexpected consequence of forcing them to maintain sky high cash reserves. They don't need the cash (can't flip it) and they want to give away all that interest. Every move upwards in rates is a windfall to the banks and a burden on borrowers. Is Bambi, purposely, trying to scuttle the economy just as he leaves? Does he have a job lined up with a bank? Is that economically illiterate? How long before the banks get nationalized. Did the not hear about WWII? People don't like banks. They don't add value.
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