Posted by: Stochasticus Weber | April 7, 2010

Why use the large, “too-big-to fail,” commercial banks?

Did you grow up being fed the folk wisdom and accepting, as I was and did, that the bank was a core of the community and bankers were solid citizens, cautious and conservative in their outlook and in their business practice? That image was carefully nurtured in every sector (economic, social, cultural )of our lives.

These days we have seen these “pillars of society” present a considerably different public persona  public with greed and irresponsibility. It seems reasonable to ask, has the time come for them to go under a reevaluation of their bona fides, their creditbility?

Should we, perhaps, begin to look to other institutions to provide the services that the traditional banks, or at least the largest, national ones, have offered until now? There are the small, local and regional ones. And there are credit unions.


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