RE: First, understand that Banks are " Instrumentality's of the Federal Government
Yes, BANKS ARE 'FRONT MEN' FOR THE FEDS. The whole goal is to give the APPEARANCE of a competitive market when in reality the competitiveness is mere pennies of the whole dollar. Shhh...don't awaken the people.
Ever since the late 1970's with the elimination of state bank insurance, BANKS ARE SUSPICIOUS TO ME: A little TOO fancy on the gold trim and nice furnishings and populated by SUITS. I only see that now only in government buildings and courthouses.
Make no mistake--that little gold plaque proudly paraded at every bank showing your account "insured" for $100K is the REAL sign of the instrumentality fact.
Anyone who has had an IRS levy through a bank--and tried to respond to the bank to release--will realize in a sobering manner just how true this is. You're supposed to get a certain number of days: You probably won't have it. The banks WON'T tell you anything about the levy--your checks will simply bounce. They won't even tell you who levied--they will just give you a phone number to the IRS. Your calls to the legal department will largely go UNanswered. If you do get through the attorney will eventually tell you, "We do as the federal government tells us to do--otherwise we cease to be a bank."
I have an opinion in this matter. It goes along with how the mob operated. Each local thug in a pin-stripe SUIT was permitted his cut of the action in exchange for forwarding a cut to the boss. So too with banks in my opinion: FRONT MEN
for the feds to give the APPEARANCE there is NO monopoly in banking. So you have the feds telling banks: Administrate loans...take your finding fee and closing cost cut...but 'sell' them to our Fannie and Fredie. And you can go ahead and deal in 'currency'...but only our mob currency called FRN's.