CDO related: What’s the Big Deal..?
WHAT IS THE BIG DEAL with BIG BANK PROFITS.. ?
Consider how ExxonMobil make 6% on their $300bn turnover. Is that a reasonable profit..? from a somewhat competitive industry..
True, there was no taxpayer bailout money to help them along their way..
Unlike banks — BIG banks — set upon their own ways. And seemingly regardless of failing or not.
So.. Annie Lowery@Washington Independent has an interesting take on GS et als.. arguing aint nothing wrong with making profits, though making too much(many) is open season to questions.. in light of pending civil court fraud allegations.