Quote:
Originally Posted by GreenLantern2814
And? Banks making $6.5 billion dollars in a quarter is a good thing; it means they aren't losing $2 billion like JP Morgan and causing a financial calamity.
Banks are a necessary evil. Find me a country that doesn't have a stable banking industry and I'll show you a place you probably don't want to live.
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6.5 billion works out to just over $200 for every Canadian.
Not a huge amount of money when you consider that without banks noone except the extremely wealthy would be able to buy a home or start a business. You'd also have to guard your money with a shot gun and wouldn't be able to conveniently access it from a bank machine or debit card.
Not to mention that when a bank makes money, that doesn't necessarily mean someone is getting screwed (although convenience fees really piss me off). It is possible for both the investor/lender and the borrower to both profit.
The reason why the Canadian government pays so much in interest? The baby boomers overspent horribly to maintain a non-sustainable life style. And the banks don't own most of the debt. Canadian citizens do through the purchase of securities such as bonds. If you want to get the government out of debt, just give them your GICs.
This girl's dad, who clearly wrote this speech, deserves a kick in the nuts. For both the non-sensical speech and exploiting his daughter.