Banks are threatening more layoffs if the Fed doesn't hike

[k p]

http://www.businessinsider.com/banks-threatening-layoffs-if-no-rate-hike-2015-9

I have to laugh because it sounds like the banks are getting mad at the Fed. Isn't this the case of don't bite the hand that feeds you? As the article points out, the banks have essentially been given access to free money, so they can lend as much as they want (danger alert), but of course this creates major competition and hence razor thin margins. And now these guys are complaining they can't make money!!

Seriously... there is no way out of this mess. Banks aren't happy without a rise in interest rates... the IMF said don't raise the interest rates or else the global economy will suffer... what the heck is the answer then?

I just have to laugh because when the same people who benefited the most from these emergency measures are the ones complaining, you gotta assume something is really, really wrong.

 

[Troy Bombardia]

It's pretty funny when the banks threaten the Fed or the U.S. gov. When the next billion dollar fine is slapped on them, we'll see who's laughing.

 

[schizo]

But I thought the Fed was, is, and will always be Goldman Sachs.

 

[Pricechange]

But I thought the Fed was, is, and will always be Goldman Sachs.

who knows...after 666 that might be changing a little, or at least, making it look like its changing a little.

 

[der_kommissar]

This really is the "damned if you, damned if you don't" moment...er, it was a few days ago, prior to the announcement...too much dollar strength and the potential for an even stronger dollar with the rate hike seems to have been a major issue...is it possible that banks are becoming collateral damage in a perpetual ZIRP world?...maybe, but not likely.

 

[i960]

If banks are suffering and bankers have to contend with the real world - then by all means lets keep this ZIRP party going for as long as possible.

I cannot think of a more deserving set of entities.