Friday, April 16, 2010
States finally telling big banks where to go, but will they follow through?
Of course it makes sense for a state to invest its funds locally. The days of unrepentant derivative deals are over, and that is the primary way that Wall Street financial investment sharks make money, they simply re-package an existing service and shave off a significant amount of the profit for themselves.
Even if the shady derivative deal loses money, the Wall Street Financial Investment sharks still shave their "profit" off of the top. Cheer your state on to fight the evil that wall street cannot seem to move away from as the states consider moving their money away from the big banks.