Re:Map the Banks
by rcarrigan87 on Monday December 15, 2014 @10:19PM
(#8755728)
LIBOR manipulation (which many banks confessed to), FOREX manipulation (ongoing scandal), Goldman's Aluminum debacle and other commodity rigging.
These are just the ones I'm familiar with. I believe it's 80-20. 20% of banks profits are rent-seeking behavior. If we compare this with megacorps in general I'm sure some of their bottom-line is also from rent-seeking behavior.
Edit: additional thought: Rent-seeking is child's play when you consider too-big-to-fail, too-big-to-jail.
These are just the ones I'm familiar with. I believe it's 80-20. 20% of banks profits are rent-seeking behavior. If we compare this with megacorps in general I'm sure some of their bottom-line is also from rent-seeking behavior.
Edit: additional thought: Rent-seeking is child's play when you consider too-big-to-fail, too-big-to-jail.