Banking Reform Won't Reform Anything

Banking Reform Won’t Reform Anything

CR Daily News Prediction© GLOBAL ECONOMY (Predicted June 27, 2010)

GLOBAL ECONOMY – What will be the outcome of the banking reform bill and how will it keep us from repeating the same mistakes again?

Predictions from Higher Intelligence - “People will see exactly how much control the government has over the banks. Banks will continue doing the very same things they did that got them into the financial crisis. Any portion of a bank’s profitable operations that the government says they can’t participate in anymore, will be moved overseas and run by a subsidiary of the bank to avoid US regulation.”

Commentary from the Mediums: Most big banks will move their derivatives trading offshore to avoid US government interference. As they move more and more of their operations out of the country, the US financial system will shrink while the International financial systems will grow. Just because the government says they can’t do something doesn’t mean they won’t just do it somewhere else. To compensate for any lost revenues from regulation, banks will start charging $10 – $20 per month just for the privilege of having an account at their bank.

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