Banking is way too much of the economy
I have argued in the past that the financial sector does too little for the economy relative to what it sucks out of the economy. Yves has a post questioning the value of the banking industry.
Seriously, it is as if the banking industry functions under the adage "possession is 9/10ths of the law." They most certainly have taken money that isn't theirs and paid it in bonuses to themselves and completely put at risk people whom the money belongs to at risk for getting it back.
And in the big picture, if there is always a spread they suck out of the economy, ultimately it is better for the economy to avoid that spread, however, the rules are such that people have saving and debt and ensure they owe the banks a bit of that spread instead of paying off debt. And it makes no sense in the big picture as to why people think this is a good idea. Ultimately, the bank takes its spread so ultimately the masses can not be better off.