Sign-Up for Newsletter!
Most Popular This Week
- Members of Congress Declare "Immunity" from Insider Trading Probe
- Afraid to Stoke Populist Ire, Obama Abandons 'Inequality' Rhetoric
- NSA 'Bombshell': Agency Spied on Prominent American Citizens
- Unpatriotic US Corporations Becoming Hot Political Issue That Unites Right and Left
- Kneeling in Fenway Park to the Gods of War
Today's Top News
No Banker Left Behind: How We Give Big Banks $83 Billion A Year In Our Taxes
The country's top five banks - JPMorgan, Bank of America, Citigroup, Wells Fargo and Goldman Sachs - aren't just too big to fail. They're also too big to turn a profit, which is why the profits they report are essentially transfers from us to their shareholders: When we pay our taxes, we give them at least 3 cents on every dollar. More on how we pay these monsters to put us in grave economic danger from that bastion of Marxism, Bloomberg Business. With Ry Cooder telling it like it is.
Update: Here's Elizabeth Warren doing it too, grilling Ben Bernanke on the same $83 billion subsidy.