Faber: Big Banks Are Freakish Offspring of Easy Fed Money
![Marc-Faber[1]](http://www.soundmoneyinstitute.com/wp-content/uploads/2010/02/MarcFaber1.jpg "Marc-Faber[1]")
Gloom, Boom and Doom editor Marc Faber says big banks are the freakish offspring of easy Fed money.
“The baleful reality is that big banks, the freakish offspring of the Fed’s easy money, are dangerous institutions, deeply embedded in a bull market culture of entitlement and greed,” Faber says.
During the recent quarter, the preponderance of Goldman Sachs‘ revenues came from trading in bonds, currencies and commodities, Faber tells the Financial Times.
“But these profits were no evidence of Mr Market doing God’s work, greasing the wheels of commerce and trade by facilitating productive financial transactions,” Faber says.
Read More: – By Julie Cranshaw, Moneynews
