Anti Bank Sentiment a Little Frightening

I have spent a number of years working within the frequently difficult and stifling environment of the Canadian banks. I am no great fan of them as employers, but I must say that I am stunned at the animosity toward banks that is currently pervading political elites around the world. President Obama has them in his gun sights, and is whipping up political fury. Apparently the international conference in Davos, Switzerland, has featured similar sentiment (CLICK HERE). No question that bankers share some of the blame for the recent meltdown, but should they have to hunker down and prepare for a global political assault (CLICK HERE). Most global politicians likely should revisit their first year economics courses...banks actually work with central banks to create money, and it is a very dangerous game to constrain their capital. Love them or not, banks have the ability to support economic growth and stability, in the right regulatory environment. Let's hope global regulators are able, and willing, to temper the fervor of populism.