Since the financial crisis, Bank profits are UP 136%... But Bank lending is down 9%.
Perhaps a more interesting story is that this is featured in a mainstream media article; Time Magazine, September 26, 2011, "After Three Years and Trillions of Dollars, Our Banks Still Don't Work."
I could take issue with the phrase "our banks;" yes, we should "own" them having bailed them out, but frankly, instead of we owning the banks, the banks turned the US Treasury and Federal Reserve into lending institutions for the benefit of the banks and the people reaping profits from those corporations.
But, don't let me tarnish the good news with side issues. Time Magazine deserves credit where it is due.
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