That really makes it a gift.
Now what happens when one gang member in banking makes a non recourse loan to a member of that same gang?
And when that loan goes bad and is written off; how many loans like that and for how long are they accrued before a Mega Financial Institution goes bankrupt and soaks the tax payer to bail them out? As is indeed what happened a few years ago with the largest U.S. banks.
The banking industry is really part of government. Why? Because the public will indeed be blackmailed to bail them out just as they are blackmailed to pay for a new stadium or that new owner THREATENS to move the team to another city. With a bank however the bank makes the argument that the country will go bankrupt and into a depression if they are not bailed out.
The point that negates that is that neither you or I are ever issued non recourse loans. The Bankers are very snooty, aloof and indeed racist subjective! And it is based on cognition. Why loan money to someone that you can victimize and then read like an open book? Same philosophy the bad man uses in dating, "Why buy the cow when you can get the milk for free."
Thomas Paul Murphy
Originally published on 06 22 2015 at: www.themilwaukeeandwisconsinnews.blogspot.com