Post
Topic
Board Politics & Society
Re: Petition to Nationalize Banks
by
Hawker
on 14/11/2011, 22:13:55 UTC
...snip...

"Profit is exploitation!"

No, theft is exploitation. Fraud is exploitation. Making money while providing equitable return is not exploitation.

The problem is that banks are guaranteed so they take the profits when they bet right and we take the losses when they bet wrong.

I don't think nationalisation could remotely help this problem but it has to be said that bank profits which derive from having the taxpayer guarantee are exploitation.