They bilk us; information found regarding internal communications back in 1993 when Proctor & Gamble sued their bank for selling duff products highlights this. It’s the rest of us versus the banks, and sadly the politicans seem to be more on their side than ours. One woman who fought for regulation, essentially for civilisation against lawlessness, was the CTFC’s Brooksley Born. Her story’s here in video;
http://www.informationclearinghouse.info/article23787.htm
Educating and frightening in equal parts.
It suggests to me that since the OTC derivatives entire process is dark, there’s only one realistic approach when it goes wrong; walk away.
You can’t fix what you can’t see.
I know this means walking away from the existing banking system, so to what exactly? Ellen Brown seems to be pointing the way;
http://webofdebt.wordpress.com/2009/10/15/reviving-the-local-economy-with-publicly-owned-banks/
BB