"The current system is not capitalism but a form of state sponsored cronyism for banks. Most of us can understand that if you have a good product then by all means make a profit. This is the essence of any small business and their survival. But the banking system operates under perverse rules. They created inordinate amounts of debt products that serve no purpose and assured destruction of those taking on the product. Think of option ARMs that actually grew the balance of the mortgage! Horrible products that have destroyed large portions of the real economy and have pushed many off the middle class path. How many foreclosures could have been avoided over the past decade with more prudent banking? Yet this isn’t what the system wants. Banks wouldn’t mind if all you did was work and had to open your beat up leather wallet and pull out 99.99 percent of your net pay to service your debt. In fact, this is probably their ultimate wish..."
http://www.mybudget360.com/american-middle-class-debt-serfdom-only-path-to-middle-class-through-giant-amounts-of-credit-card-housing-debt-loans/
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