Former JPMorgan Banker: Exploiting Consumers Is ‘The Purpose Of The Banking Organization’

Wall Street continues to ignore America’s anger at it, sipping champagne from rooftops while protesters march below.
November 18, 2011

Wall Street banks, largely spared from the economic ruin felt by millions of Americans since the financial crisis of 2008, have returned to profitability, generating higher profits in the two-and-a-half years since the crisis than they did in nearly eight years preceding it. But that hasn’t stopped them from seeking new ways to generate revenue — like Bank of America’s proposed $5-a-month debit card fee or the millions banks have made from charging consumers to receive unemployment benefits or food stamps.
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