Ushering in Financial Destruction: Fraud by big banks crippling U.S. economy

jp morgan steals

The recent global economic crisis has pointed to some real dark sides of the entire economic system. In the U.S. or anywhere in the world, the economy largely depends on banks and other financial institutions. Natural News reports that the improper policies that are implemented by these banks and the corruption that plague the whole system are the main reasons of economic debacle in the U.S. Moreover, the U.S. is now facing a fiscal cliff that may push the nation into yet another recession by the beginning of 2013 if it is not dealt with properly.

Natural News reports that most of the big banks are in the frenzy of earning huge profits. But the most alarming thing is that the advertisements that these banks place in newspapers and on television speak absolutely the opposite of what they really do. It was long perceived that big banks like JP Morgan Chase could never fail but under the current economic scenario, they also had to request for a bailout. However, the things that these banks do only usher two things are huge profits for bankers and complete destruction of the overall economy.

These banks work hard to keep their profits intact even if it comes at the cost of an economic debacle. The biggies of the banking industry fill the board of the Federal Reserve that lends monies to these banks at zero percent interest rates thus exerting adverse pressure on the economy and burdening common people with debt. However, the governmental authorities who are always ready to serve the interest of huge corporate firms do little to reign in the banks. These banks hardly take initiatives to extend loans to small and growing firms and general people, thus jeopardizing the whole economy. The economic crisis is not going to be warded off if these banks do not change their malicious policies.


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