"BANKS COOKING UP ANOTHER FINANCIAL CRISIS"

[WhiskeyGirl]

Why didn't they shore up the financial system?  Make banks and their management responsible for their bad business practices?  Build a firewall to protect Main Street?  Straight up corruption?

Wall Street is cooking up another crisis—making shoddy loans and selling worthless securities to investors hungry for higher yields than CDs and government bonds offer.

Dodd-Frank banking reforms imposed very costly regulations on mortgage and commercial lending. Regional banks, which have solid knowledge of smaller businesses, could not bear these costs and sold out to large Wall Street institutions. Now a handful of money center banks control more than half the deposits and lendable money.

Not to be out done by their predecessors, today’s modern bankers are also writing lots of “synthetic securities.” Those generate returns to investors, not from the cash flow on loan repayments, but rather from bets made by third parties about whether loans will succeed or fail. Those have as much place in sound banking as nepotism does in government employment.

read more here - http://www.breitbart.com/Big-Government/2013/06/14/Banks-Cooking-Up-another-Financial-Crisis

I imagine taxpayers/US citizens are going to be stuck holding the empty bag, again!!!