There is still an issue. The permission has been given to youtube to carry the content, not to anyone else who wishes to download it for use outside of youtube. If you do so, you are stealing.
If I put my money in a bank and someone took it out without my permission (or the bank’s), it would be stealing.
Totally false analogy. One would be stealing, the other a breach of a terms of service agreement at best. There are a lot of things that can be carried by Youtube, and most of the videos are in fact uploaded by personal users. I wouldn’t mind if anybody downloaded any of my videos. In fact, I’d be flattered. In addition, Youtube DOES download videos to your computer…it’s the way it works. When you see the red bar extending beyond the playback point, it’s downloaded. It might be to a weirdly-named file, but it’s on your computer. Usually, it’s deleted right when you close the window.
It’s true that YouTube does have a TOS which technically forbids downloading, but if anything this is a civil breach of an agreement, not necessarily a criminal act of theft. With these types of terms of service, which have become increasingly common now that the internet is so widespread, I think judgment is necessary as to the applicability of them in specific cases. Take the example of somebody with a slow and unreliable internet connection, who cannot usually watch YouTube videos in the normal interface but can download them through a third-party downloader (and I have had this happen to me; in fact, YouTube suggested DOWNLOADING the video and provided a link, possibly to a third-party video downloader). Would YouTube really want to lose the potential advertising clicks generated by this user because he strictly obeys the terms of service and hence cannot download the videos, thus rendering the site useless to him?
In addition, there are ways of disabling even third-party video downloaders from downloading videos - VEVO uses a method like this.
This isn’t to say downloading off YouTube is never wrong, but to offer a counter-point to the above poster.