Maybank Boo Boo

Why should they not make these mistakes. Banks today are a very special group of institutions. Even more special than those who enjoy the NEP. You see, they take our money( deposits )and pay 2% interest and then lend them out for anything from 6% to 18% interest..With credit card debt taking the cream.

when I did economics in the 60s I was told that the person who provides tthe capital must receive a sustainable reward. 2% is by no means within that definition. The market is distorted because the worlds financial authorities have all their roles mixed up by the political masters. The central Banks that are supposed to work as regulators of Banks are now in their camp and making one sided recommendations to the governmnet which has now taken over implementation of monetry policy. It is akin to the Tax Chief simultaneously holding the post of Head of the Finance minisrty.

People who save money will never get their just reward at least for another 4 or 5 years. In the meantime it better to be big time borrower of funds, preferable in the billions because then you will be too big to fail and you will own the bank which will be able to persuade the government to keep you as a borrower of billions a float. Good Luck to all of you.