forwarded by ForgottenEconomy.com
Six Giant Banks Made $51 Billion Last Year; while the the other 980 banking institutions ALL lost money.
Many will immediately recognize that the 6 institutions that make up the list of 09′ profitable banks and the list of banks that were most “in need” of a bailout are uncomfortably similar.
“past Bailouts …rewarded the worst managements, the least deserving shareholders, and the most reckless creditors. After the government’s largesse, bad companies do well – and at the expense of the well managed, responsible, non-reckless firms.”