Big Banks Lost In Economic Shuffle? Progressive Control?

This is confusing - Mr. Obama owns most of the banks and their CEOs, for the most part they are bundlers for the DNC, but they think they need more freedom to accomplish a their larger goals of higher profits through self direction.

This in it's self would be okay in a free market situation, but we don't have a free market for the larger banks as Mr. Obama is using them to finance his campaigns and as whipping boys for the low information voter and the press.

This is just a technique or tool that Mr. Obama uses to gain approval of the masses, he demonizes everyone and every thing that has gone wrong in the country, 'see what the Republicans and Conservatives have done to you?', and which he is trying his best to correct, even though he is the one that caused the problem in the first place.

See how this works? Berry doesn't have to take responsibility for anything, it's always someone else's fault.

Even under these circumstances, the banks still make a ton of money, but now maybe they are beginning to chaff a little that Obama has his boot on their collective necks. Maybe now to they are finding out that being a 'boot lick' for the guy in the White House isn't all it's crapped up to be, big money or no.

Can it be that big bankers actually have morals? - - - nah.

Central Banks Losing Autonomy
March 14, 2013
Source: Sylvester Eijffinger and Edin Mujagic, "Independence Lost," Project Syndicate, March 6, 2013.

Central banks, which manage a country's currency, money supply and interest rates, are important policy tools in managing the economy. Central banks around the world took drastic actions to reduce the impact of the global financial crisis that struck in 2008. Economic output has been resilient throughout the crisis, but central bank independence has suffered, says Sylvester Eijffinger, a professor of financial economics at Tilburg University, and Edin Mujagic, a monetary economist at Tilburg University.

• During the 1970s, when the world was confronted by recession and rising inflation, the independence of Germany's Bundesbank, which had great success in lowering inflation, triggered countries around the world to increase central bank independence.
• After inflation fell, lower-than-expected outlays and higher-than-expected income for Western governments meant that central banks did not need to print money.
• Following 2008, printing money has been an easy alternative to large tax increases or drastic reductions in government spending.

As a result, fiscal policy, which relates to government revenue and spending, has trumped monetary policy. Increasingly, central banks are bowing to political pressure.

• The Bank of Japan has shed its autonomy by recently agreeing to buy an unlimited number of government bonds to meet its 2 percent inflation target.
• Similarly, the Bank of England has continually loosened monetary policy and is buying almost every new British government bond that is issued.
• Likewise, the U.S. Federal Reserve is buying more than 90 percent of newly issued U.S. Treasury securities.

Central banks are essentially financing government spending. And though they once had an air of independence, an examination of each central bank's governing status reveals that each bank is undeniably linked with the government's economic policy positions.

Though the European Central Bank (ECB) does not suffer from the same codified relationship with its host countries, it has acted less and less independent through the recent financial turmoil. Increasingly, the ECB, which operates by allowing each member country a vote on policy, is opting to purchase large quantities of government bonds from struggling periphery countries.

Independent banks are becoming more centralized and responsive to the desires of politicians. Increasing inflation may indicate that the long-term price stability once provided by independent central banks may give way to continued high inflation.