This is spot on. Friday Bloomberg really raked jamie dimon of JP Morgan over the coals. They said it was apparent he still did not know what was going on inside his bank, which should be broken up. One commentator said mismarking of books was fraud and that the pillaging won't stop until handcuffs are put on and the perps are taken to jail. Corzine still walks free but his farmer clients were defrauded of a billion and now an Iowa firm lost 200 million and covered it up from regulators for a long time. Of course that guy tried to suicide but did not manage that successfully either.
that isn't true at all they do not give the money to just anyone.
Also managers are not just anyone.
They give the money to famous, known, big !$%*!$%* or real-estate not to small companies.
They would give D. Trump a million but not to you, even though you still have the benefit of doubt.
Who care what the bank does with your money? If they lose it all, the FDIC will just reimburse you for everything anyway. And the government will bail out the bank with taxpayer money. Well, assuming the bank is large enough to have lots of friends in high places. The small banks can just suck it, I guess.