Tuesday, June 12, 2012


A number of years ago, I had occasion to call into a bank of which I am not a customer. While there, an official suggested that I open an account. I asked why, that I had an account elsewhere; he came out with the beautiful “because we would like to get to know you better.”

I could hardly believe it: do they learn their advertising jingles off by heart; are they hooked up to electrodes; worse, did he think I was chuffed to be a target for the bank’s friendship; worse still, does this line actually work?

Fast forward a number of years; the banks lose money through poor management, poor regulation, corporate greed, and all those close friends are coughing up: losing jobs, savings, pensions; emigrating.

Is it too simplistic to see the banking system as facilitating us, not a hoover for clearing our pockets.So when the system goes belly up, why are the people facilitating it, a system.

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