Arianna Huffington: Here's a Switch: Some Good News About Banking

AP/San Francisco Chronicle, Lacy Atkins

Arianna Huffington: Here's a Switch: Some Good News About Banking

Arianna Huffington: An upcoming analysis by the IMF reportedly says that when all is said and done toxic debts on the balance sheets of banks and insurers could go as high as $4 trillion. But it's not all doom and gloom -- there are actually many things going right in the banking industry. Before I lay them out, though, it's important that we clarify our terminology. When it comes to the current crisis, all banks are definitely not created equal -- or equally culpable. As the head of the American Bankers Association recently put it: "Wall Street and Main Street banking are very different." So when we rightly castigate "bankers" for the toxic economic swamp we are struggling to drag ourselves out of, we are really talking about the high-flying financial gluttons of Wall Street, not the vast majority of much smaller "traditional" banks. Click here to read more.