Wall Street brain trust missing excellent money-making opportunities

One would think that as much as Wall Street loved money, they would never let anything pass them by where there was the slightest possibility where they could make a buck without risking a dime which surprises me about this revelation.

We are all quite aware of what banks did with the Toxic Assets Recovery Program (TARP) money.  It was used to cover over their gaping holes in the financial reports, pay out bonuses, hide and stash away millions and purchase smaller banks to reinforce their bottom line.  It was implied that the reason for the TARP money was to keep the banks afloat, save the housing market and keep people employed.  While it was used to keep them afloat, it was not used to save homeownership nor keep employees off the unemployment rolls.  Imagine if the banking industry adopted a fresh way of doing business like allowing community banks to take care of their communities while the bigger ones concentrated on investing assisting internationally.

An Associated Press article titled 6.1 earthquake strikes near South Pacific islands speaks about “the U.S. Geological Survey says a magnitude 6.1 earthquake has struck near a group of South Pacific islands. New Zealand has been shaken by a series of quakes and aftershocks since the city of Christchurch were devastated by a temblor on Feb. 22 that killed 181 people.”  There have also been reports of earthquakes in Turkey, Japan and other international places.  Imagine American money being invested in assisting these and other countries with their recovery charging a pretty penny for each cent loaned.  The return would probably be quite large and would not only provide a speeding and complete recovery for those suffering over there but would benefit greatly this country because of the enormous return.  The profits could then be used to provide the necessary backup to community banks in America so that they could not only borrow from the Federal Reserve but the larger financial institutions here.

Another Associated press article titled Earthquake shakes SF Bay Area reports “People across the San Francisco Bay Area felt the rumblings of a small earthquake on Saturday night, but there were no reports of any damages or injuries” and we all have heard about the flooding and tornado damage in mid-south.  Image community banks located close by these devastated areas being able to immediately lend to families and businesses.  One moment citizens are cleaning up and a few moments later they are rebuilding.  No longer will we have this constant rebuilding as evident in New Orleans.  Community banks would be more willing to help rebuild their communities if they knew that they would help the many instead of the few.

Banks currently have a few smaller institutions in their pockets but use them now to just legally rob those who they choose not to cater to with their larger branches, imagine if they would just slightly modify this situation and allow their smaller conquests to invest in the community as it was first promised when these smaller community banks were first established.  Just a thought, I could be wrong.

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