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Banking Needs to be "Regulated" by Society

The question is not whether banking is profitable. The question is whether it should be as profitable as it is.

Certain inventions create wealth. This happens when new machines and processes can improve productivity to allow you to get "two for the price of one."

Other inventions only transfer wealth. These work in the terms of hidden (bank) fees or other hidden transfers. No new wealth is created, although someone gains because someone else loses.

Bankers no longer give customers the benefit fo the doubt as they did in the Jimmy Stewart days. They WANT you to commit "technical" violations of their aribitrary rules, so they can run up your fees. Banks interpret their own rules to maximze THEIR gain and YOUR loss. And the more complicated those rules are, the more room for "interpretation."

As a group, banks are hugely profitable. They have legions of lobbyists swarming Washington and the state capitals. All the more reason they shouldn't be so profitable. And all the more reason they probably will remain so.