“The whole banking business is corrupt from top to bottom today. Part of the problem is that banks are no longer financed by the individuals who start them, putting their personal net worth on the line. Now, they are all publicly traded entities – just like all brokerages – playing with Other People’s Money. Management has no incentive to do anything but pad their wallets, so they pay themselves gigantic salaries and bonuses, and give themselves options. These people aren’t shepherding their money and that of clients they know personally. They’ve got zero skin in the game. This is true all over the world, not just in the US and Europe.”
Doug Casey: All Banks Are Bankrupt
- Post author:The Freedom Watch Staff
- Post published:April 5, 2013
- Post category:Network Archives
Tags: Bankocracy, Big Lie, CLibertyC, constitutional liberty coalition, crony capitalism, economic Trends, Economics, Essays, for life and liberty, investment, Middle Class Dismissed, money, Money For Nothing, Resistance, sound money, statism, The Freedom Watch
The Freedom Watch Staff
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