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Bankers are the modern day mob: commodities edition
#18

Bankers are the modern day mob: commodities edition

Nacirema's heart is in the right place, but I find that summary hopelessly naive. It describes more or less classic, boring banking that deals only with savings and loans. That kind of bank is a great thing indeed and does help mankind.Our modern life could not exist without those banks. However, we're not talking about that kind of bank here. We're talking about a bloated monstrosity insured by the taxpayers, gambling rather than lending or investing money, racketeering business, cities and states, and manipulating almost every single thing that is supposed to have nothing to do with the financial markets, like oil, cotton, aluminium or carbon credits.

Those are two extremely different things.

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