A dying breed

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Editor;

Re: (PM Mailbag Forgotten Fannie Mae, Freddie Mac & Merrill Lynch Friday, 12 June 2015) – It is a little different. As of 2012 Bloomberg reports that 190 billion dollars in aid was given verses 46 billion dollars in dividends received. I only was able to obtain the first four years of information, but presumably they are making a return to the public purse.

Of course your present government in UK is selling off RBS for less than what the taxpayers spent to bail it out, at the same time as HSBC is weighing its departure from UK to Asian shores. Oh, and the American government reaped a profit bailing out General Motors as well. American bank accounts are backed with the full faith and credit of the largest economy in the world.

Now, when you say “financial institutions” I presume you are referring to investment houses rather than banks and there are surely a number of them with less than five billion in assets under management. There are probably some small banks left in America, but they are a dying breed.

Robert