For a 1 year period the S&P is up about 15%, while the KBE (market cap bank ETF) is down about 7% and GS is down more than 10%

"Men enslave themselves, forging the chains link by link, usually by demanding protection as a group. When business men ask for government credit, they surrender control of their business." Isabel Paterson, “The God of the Machine”

Perhaps the markets have recognized the too big to fail investment bank have become little more than union shops…running and existing not for the stockholder/owners but for the employees and the politicians. Government can print more and more money, but if the sole idea of the bank is to continue to exist not to take risk unless it help politicians; then the money printed will continue to only flow to the flexions The government control what business risks can be taken and the answer so far has been “None, we only want guarantees, banks cannot fail”. The circularity of the “what risks should the too big to fail be allowed to take?” question escapes them.


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