BTW the bankers who are now in trouble contributed mostly to Democrats.
I don't thing they were against government control. They were more likely in favor of regulatory capture. It worked.
Look at the history of the Interstate Commerce Commission for another example.
400 million for high risk research
In the Soviet Union there were no leeches. They did it right. They determined scientifically how to properly allocate resources and eliminate the leeches. Sadly you don't hear much from them these days.derg wrote:What kind of ideology is this? Bankerism? I like to think we're entering into a more enlightened age, where pure profit is seen more for what it really is: leeching off society, rather than contributing to it.jmc wrote:On the issue of punishing "greedy bankers", the problem at the moment has nothing to do with "greedy bankers", the problem is to do with terrified bankers, that's why were going into recession and the more we punish them the more terrified they will become. When bankers were greedy we were all doing fine. Its only now that their terrified that the economy is declining. But don't let that stop you from punishing one of the more lucrative sectors that generates wealth for the economy and provides capital that allows businesses to growth. Calls for punishing the "greedy" banks almost reminds of an autoimmune response, the western countries violuntarily eating themselves up. But don't let that stop you punishing greedy bankers and why not bite off your own balls while your at it?.
Engineering is the art of making what you want from what you can get at a profit.
In my area (Rockford, Illinois) Alpine Bank is doing well. Amcore (locally big) is not. Can't say about listings.jmc wrote:Do any tickers of listed undervalued small banks that are financially O.K. come to mind?TallDave wrote: Actually, most smaller banks are doing quite well. It's only the behemoths that are stumbling.
And of course due diligence is required. I haven't looked at the P&Ls. And my info is second hand.
Engineering is the art of making what you want from what you can get at a profit.