USA Today last week had a big page in the business section that showed all the different funds, the stock and bond funds, the mutual funds in the United States and what their earnings had been since 1991, and the emerging market fund under which this would fall, investments in Mexico had yielded a 66 percent return over the last four years. So the companies that we are talking about are not poor little lambs. These institutions have made incredible profits, and as they made those profits, why should they not eat their losses? And for the big banks, this has been a great time to be in banking in America. They put a fee on everything, right, if we go down here to the little checking machine and I try to get some money from my bank in Ohio, they charge $2.50 or $3.50 for the transfer. You pay for your checks. You pay for everything. You practically pay to go into the bank. They are making lots of money off of customers. So this is true. Banking has been very profitable over the last 5 years. Why should they not eat their losses? Why have they come to the taxpayers?
Marcy Kaptur: “USA Today last week had a big page in the business section that showed all the different funds, the stock and bond…”
Editor's note · Context
Discussing the profitability of banks and their reliance on taxpayer support.
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