Whose interests are banks representing?

Let's see if we can make some sense out of the present big banking mess. The biggest banks that public money has saved from financial ruin and, therefore, according to the powers that be, prevented a meltdown of our capital markets and those around the globe, are still engaging in shady risk behavior with billions, if not trillions of taxpayer bailout dollars.

These banks are still operating in so-called "dark pools" (legal, but nontransparent, secretive markets for the privileged class), or investing public money in what their risk managements teams believe to be values abroad.

So, they get money from the Federal Reserve at zero percent interest and lend it out to companies overseas at much higher rates to help those companies sustain and create jobs.

Obviously, this is exactly what the present administration wants these banks to do for our country, but they choose not to, arguing their need for higher capital requirements. Then, after paying back TARP money, these big bankers reward traders and themselves with billions in bonus money.

What a great way of doing business. Privatize profits, socialize losses.

And then, as a nice topper to this private wealth created with public money, they use millions to "lobby" congress to influence any financial reform. They lobbied to get rid of financial regulations, such as the Glass-Steagall Act, a move which helped create big banks and they will lobby with your money to keep their dream machine going.

No wonder why a lot of folks question the patriotism of a big banker these days. They are engaging in legalized larceny.

The question now is whether those in this administration and those in congress represent the interest of the big bank cartel or the public, who are reaching for their pitchforks.

Thomas McGrath

Arlington Heights