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<blockquote><br /><br />Just another form of corporate welfare. <br /><br />Banks need to loan money to each other. <br />They need to send checks and deposits back and forth.<br />And so much more. <br /><br />Instead of each bank having a huge office tracking all that stuff, they just do it through the fed, and let the fed sort it out. <br /><br />Savings them billions they can then use on malinvestment, risky behavior and creating financial bubbles. <br /><br />Speaking of financial bubbles, it was the endless cycles of boom and bust in the 1800s and early 1900s that lead to the central bank and federal oversight of banking. <br /><br /><b>Simply put, we tried letting them do it themselves and they couldn't.<b> <br />Not say the fed can, but we know the private banks can't. </blockquote><br /><br /> <img src="/ubbthreads/images/graemlins/know.gif" alt="" /> <br /><br />Regulation is <img src="/ubbthreads/images/graemlins/sn.gif" alt="" /> <br /><br /><br />It works for Canadian banks...
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