icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Banks figure out new ways to rip people off by changing laws to get away with it – Max Keiser

Banks figure out new ways to rip people off by changing laws to get away with it – Max Keiser
Max and Stacy look at the endless money-printing by the US Federal Reserve, discussing the future of the latest stimulus checks and the role of banks in all of that.

“So, the government sends the money to the banks and the banks want to keep it, essentially – they don’t want to distribute it,” says Max, explaining that’s “simply because they like to get it and use it and spend it, and give themselves bonuses and buy apartments and yachts and stuff. That’s the only reason.”

He adds that “A lot of this has been the history of the past 40 years. During this bull market, banks figure out new ways to rip people off, they get caught, and what they then do is they change the law or introduce new laws, and if there are any problems, they extend and pretend. They just make the maturities longer and the coupons lower.”

For more stories on economy & finance visit RT's business section

Podcasts