Who Stole U.S. Citizens' Economic Freedom? Email Print

In a capitalist society, competition is the key to progress.  Why then are banks allowed to basically eliminate competition?

In a survey of approximately 100 U.S. banks, it was recently discovered that approximately 50 percent of the banks listed on the Internet were offering less than 2 percent on a 1 year certificate of deposit.  Some banks were offering as low as 1.2 percent.

The other approximately 50 percent of the banks offered 2 percent.

It is no accident that U.S. bank rates of percentage return are so low.  This is a deliberate conspiracy to help Wall Street.  When people recognize the return of investing in a bank's certificates of deposit is so low, many will go into high risk investments, hoping to receive a fair percentage return on their investments.

But do bank managers cheat themselves out of a fair and just return as they are currently doing with certificate of deposit investors and savings account?  No way!  When the $700 plus billion bailout package was presented by the Republican administration under Bush, no caps or limits were placed on bank presidents' bonuses or salaries.

After Barack Obama captured the presidency promising change, the very same thing happened with the $700 billion plus bailout -- no cap or limit placed on bonuses and salaries for bankers.  

Charlie Gibson revealed on ABC News last week that the top bankers for the biggest banks rewarded themselves with an average bonus and salary of over $13 million.  All this occurred while the average bank employee was making $31,000 per year.

The certificate of deposit investor can choose between less than 2 percent with half the banks surveyed and 2 percent with the other half of U.S. banks.

Why is the hard working U.S. citizen being legally victimized with such low percentage returns?  Could it be that it is all a carefully constructed conspiracy to boost Wall Street stock investments, even though risk is ever present?

With 34.5 million people of food stamps, this huge government subsidy program keeps prices from declining drastically.

For a family of four, where neither husband nor wife has employment, the government is providing as much as $28,000 a year.

I am not criticizing the food stamp program or the $28,000 government bailout for families with no one able to find employment.

But I am asking this question:  If it is acceptable to feed and fund many U.S. citizens during this deep recession, why isn't the U.S. currency worth more than 1.6 to 2 percent?

Don't the years it took to acquire the currency count for anything?  The hard working, thrifty U.S. citizens who never wanted free food or cash bailouts, but sought only a fair and just return on their savings and certificates of deposit accounts, should not be tragically ignored while the super rich of investment banking are constantly rewarded for failures that have left the nation's economic state in calamitous turmoil.

The stable American who is able and willing to pay for the food he eats and doesn't want a government bailout like $28,000 a year has been tragically and repeatedly been categorically discriminated against.

This stable, hard working, discriminated against American understandably does not want to be the victim of an obvious conspiracy among banks to obtain use of other people's cash without giving a fair and just return on U.S. currency.  

Is seeking a fair return asking too much of these $30 million a year bank titans who were bailed out with U.S. taxpayers' hard-earned cash?


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