Here's another reminder that letting banks buy stocks was the dumbest thing we have ever done in the USA.
The FED bailed out big banks with trillions of dollars during the crisis. The losses were caused by their purchases of mortgage derivatives, not their loan portfolios.
Maybe I can become a bank like that Barry, then I can buy any old thing from Bernie Madoff and the FED will cover my losses and let me keep any profits.
It's a system designed to create crooks, and , guess what, it does a very good job.
Read it here: http://www.commondreams.org/headline/2011/08/28-3