Is your Bank Safe?

I had to read this article – like 5 times!  I still think I might be reading it wrong:

• Business Insider – Goldman Sachs plans to use retail money to make Wall Street-style profits

So, Goldman Sachs plans on gambling with depositor money – and it is being reported as a normal business decision?  Is 2008 really that long ago:

I guess I am just being paranoid, we should just trust large banks to do the right thing, and not worry about any hanky panky (oh wait):

• New York Times – Pervasive Sham Deals at Wells Fargo, and No One Noticed?
• The New Yorker – How Regulation Failed with Wells Fargo

But at least Bankers are punished now – instead of rewarded like back in 2008 (oh wait):

• Fortune – Wells Fargo Exec Who Headed Phony Accounts Unit Collected $125 Million

Can we really be this dumb?  Reminds me of a quote most often attributed to Mark Twain:

“History Does Not Repeat Itself, But It Rhymes”

Update: ZeroHedge just confirmed what I feared:

• ZeroHedge – Step Aside London Whale: Goldman Is Now Using Retail Deposits To Fund Investments