Bankers' shills.

Editor,

Blankfein's "social purpose" is indeed to make capital available to businesses and consumers, but the derivatives and especially the credit default swaps that caused the collapse of the world economy serve no purpose whatsoever other than to line bankers' pockets.

Packaging worthless loans and pawning them off like hot potatoes to hapless patsies serves no "social purpose" and in fact is a criminal enterprise. And insuring these bogus securities serves no "social purpose" other than to enable that criminality.

Banks are indeed in business to facilitate business, but the bankers who ruined our economy treat banks like vehicles to make themselves as rich as possible at everyone else's expense, and of course there are no meaningful penalties for what they've done because money rules our government and bankers' shills administer it.

re: "Virtuous Bankers? Really!?!" (11/11/2009)