Those banks turned around and raised fees for everyone. Don't loan to most small business. Don't loan to most self-employed. Are just horrid institutions.
They have just seemingly given the wealthy credit?
They have given the wealthy so much money; somedays these 1 percenter's appear to be just gambling?
Literally just gambling, except in the realestate market. That market is still a sure thing for them, and very rich investor knows it. And they know so many of us will never qualify for loans; so jack up that rent Thurstan!
This recovery hasen't helped guys like me, or my mother who relied of safe cd rates to get ahead. (And no--I'm not blaming banks on low fed interest rates. I probally shouldn't have even wrote that last sentance.)
I probally should comment--I'm no expert.
I just wonder if we severely regulated credit default swaps, and the derivitave markets--the crash in 2008 would have been less dramatic?
The one thing I liked about Bush is he wanted the poor/middle class in homes. He believe little guys should be given a chance. I just wish he went about it with more regulations, on the big boys.
My brother in-law used to flip houses. He now is a yoga instructor. The banks won't talk to him. Houses are still being flipped, but only by the wealthy. They are making a killing in my county. They are buying up everything. Why not, at these interest rates, and banks that are literally bending over.