[ExI] dirty secrets of capitalism?

[Dan TheBookMan]

On Oct 10, 2017, at 3:23 PM, William Flynn Wallace <foozler83 at gmail.com> wrote:
> 
> From The Week:
> 
> by Rana Foroohar  NYT
> 
> Lending to Main Street (not sure I understand all of the metaphor) comprises 15% of the business of the big NY banks.  The rest 'exists in a close loop of trading' and corporate deals that works solely to enrich the already rich.
> 
> The financial industry provides 4% of America's jobs and takes home 25% of the corporate profit pie.
> 
> When I first got a job teaching at a college I walked into the local bank, locally owned and asked for a loan to buy a car.  My loan officer, the president, asked his secretary for the paperwork, filled it out and told me to call when I knew what I was buying.
> 
> No history of my finances required.  All he knew was that I taught at the college.
> 
> Do we even have local banks any more, so that we can take our money away from the big banks that use our money to play games with it?
> 
> Does this dispel the myth that if you raise taxes on the rich you hurt their ability to create jobs, trade, factories, etc.?

I think it's fanciful to believe the corporate ruling class will somehow harm itself for everyone else's benefit. Have a little faith. Whatever reforms may come will be tailored to their desires not yours.

Regards,

Dan
   Sample my latest Kindle book "Sand Trap":
http://mybook.to/SandTrap
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