This article demonstrates one of the great weaknesses in our current banking environment.

Bond traders bring very little value to the deal. Banks are entitled to be paid to provide the service of facilitating trades between buyers and sellers. But the amount of money we allow to be extracted is massive and we all pay directly or indirectly.

It is a relatively recent phenomenon that banks have their fingers in virtually every transaction in existence. They have been allowed to syphon many billions of dollars every year from our pockets.

This gouging needs to stop.