What the heck are we doing????????????? Repeating the mistakes of the 1920s seems what we’re doing. The banks have cool secrecy laws that help them hide where money is shifted and stored. The laws were created by heavily lobbied legislators to stop any potential panic that might occur if Americans learned …the rest of the story.
So we Americans are kept in the dark, hand the banking industry our cash and trust they will do good with it. Hopefully they are. In the 1920s they weren’t so good. Again the Teasury worked with the banks to bankings interest. The Justice Department also leaned in bankings favor as bankings top dogs, certain investors and others on lower rungs made off with lots and lots of other peoples cash. It was an internal looting. Few were prosecuted.
Hopefully that is not happening now. Though ditching that much cash into a murky industry as banking sure must be tempting. The sad part is that we’ll probably never know.