Federal Reserve

More Americans opt out of banking system. The article wants us to think this is a bad thing. It's bad for banks, but not for people.

"“A part of changing the condition of unbanked people is keeping them away from predatory lenders who keep them mired in debt,” he said. “One of the reasons you had all of these mortgage companies preying on low-income communities is because there were no options.” "

I wonder if he said this with a straight face, without irony.

It looks like QE3 has already backfired by causing bond rates to rise.