Wednesday, April 15, 2009

Cost of Credit Cutting Into Profits

Shares of Raymond James Financial fell as the firm said that it would need to triple the reserves set aside for losses on loans. The cost of credit is destroying any profitability that may result from it.

Usury shouldn't be a profitable venture.

The government should give us a citizen's bank from which American citizens could get interest-free lending and the Federal Reserve should be nationalized.

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