How Banks are Getting Rich Off the Poor

Forbes (April 26, 2012)  –  It’s not easy being a big bank these days. Consumers hate them, shareholders have beef with them and regulators can’t figure out what to do with them.  At the end of the day though, a bank’s gotta do what a bank’s gotta do: make money.

But how banks go about making that money is one way to differentiate them…Nancy Bush, a bank analyst, puts it this way, “It goes back to the way some people have viewed banking. They treat banking like an electric utility where if you flip the switch it has to be there for you. But the truth is banking is a business that aims to makes profits for shareholders.”

 

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