Banks make way more money than oil companies from high credit card rates and late fees?

Question

So why do so many people pick on the oil companies. Banks make tons of money for doing nothing.

Answer 1

Give it time. "Global warming" is nothing more than an attack on Capitalism and individual rights. Once they kill the oil corporations, the banks will be soon be pilfered.

Answer 2

"Doing nothing" = creating money by leveraging deposits to lend out to small businesspeople, homeowners, venture capitalists
"Doing nothing" = creating a seamless transaction system so the next time you swipe your ATM card it works, without the grocery store needing you to leave collateral for the money you just paid them electronically
"Doing nothing" = adding liquidity to the system (and relaxing credit standards) to allow the lower middle-class to own homes - for better or for worse, as the case may be!

I'm not saying banks aren't evil, I'm just saying that they're not doing nothing...the infrastructure is terribly expensive.

Answer 3

Try getting along without the banking industry. You'd be amazed at what kind of things they facilitate. They may not get their hands dirty, but everything from food to furniture depends upon financing. So if you eat or sit down, it happens because of a bank.

Answer 4

Ok I agree, but why is this question under "global warming"