People talk ill of lawyers, but banking is legalized fraud. Picture this; I come and borrow money from you and all your friends, set a minimum balance of
how much of your money I’ll keep to myself. Charge you for keeping your money and for every time you’d want some of it back or even information on how much I still owe you.
To add insult to injury, I’ll ask your employer to vouch for you anytime you’d want to borrow money from me in spite of your regular contributions to no one else but – me. And when I’ve used all your money on risky investments which benefit only me, I ask you and your friends to bring collateral for any loans you want from me. I’ll put all your securities into a pool called Collateralized Debt Obligation (CDO), and borrow money from another bank which I’ll lend you and your friends at a premium.
If you dare try to question my activities, I throw terms that have no meaning beyond philosophy; Capitalism, Free Market, Derivatives and even question your education (you just don’t understand the way micro and macro economics works).
But one day my hubris will get the better of me and I’ll sack an insider who understands my illegal activity. I’ll strike a deal with legislators for a bailout which you and your friends will pay for via taxes. And its all ‘legal’.