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Bankers


Raistlin
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Back in 1929 through the Financial Crash it was said that some Wall Street Stockbrokers and Bankers JUMPED from their office windows and committed suicide when confronted with the news of their firms and clients financial ruin . . Many people were said to almost feel a little sorry for them . . . . . .

In 2008 the attitude has changed somewhat

ATT00016.jpg

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I think its dreadful... especially as 'bankers' get all stereotyped in together... and there are many different kinds...

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I think its dreadful... especially as 'bankers' get all stereotyped in together... and there are many different kinds...
I spent six years working for a bank during the last downturn (the 1980's).

During the boom cycle they set up an office just to handle mortgages and cream in the profits. As soon as the crash came the office was closed the debt sold off and the staff made redundant.

There is not one financial institution that has a financial product (pension, mortgage, current account) that stays the same for more than 5 years either the terms change or they bring out something else that makes it more worth you while to switch. This is probably the reason I have never been given sound long term financial advise by a financial adviser. There is no such thing as long term these days. You can save all your life or put funds into a pension scheme all your life. If the financial market is going belly up when you need to cash your savings in it is tough. All the projections and estimates count for nothing.

For years banks have taken three to four days to clear funds. The money does not sit in your account gaining interest until it clears it sits in the banks own accounts working for them to make profit.

Banks are a for profit business. Who else can charge you a fee, to tell you they are charging you a fee (send you a letter), because you are overdrawn.

Maybe when banks were run locally by a friendly bank manager things were different but now they are just big conglomerates with a one rule fits all attitude.

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