Isn't a bank's reputation worth anything anymore?
I got the following note attached to my Line of Credit bill this month:
"In our continuing commitment to keep our clients informed, we are sending this out in advance to you. Effective June 26 the difference between prime and your line of credit interest rate will be increasing by 0.5%.”
It’s a well-known proverb that you can’t trust a banker any further than you can throw them. Since I don’t trust my bankers at all they must be among the fattest of the greedy fatties. I doubt I could even push them one inch. I would be more than willing, if it improved their trustworthiness, to build a catapult or a trebuchet capable of launching the slimy crooks along with their cushy leather armchairs into the neighbourhoods of the common people they screw every day. Or perhaps we could slightly change the definition of “throw” to include “drop” and I could wheelbarrow those hefties to the middle of one of the St Laurence bridges … if only that proverb were true. Truth is, even if I could throw them they still wouldn’t be trustworthy.
Open question to bankers: Do you know what a deal is? A deal is a promise between people. I do something for you, and you do something for me. We both benefit and we both keep our promises and we both can respect each other. It’s called integrity, which is a character trait that your parents and your schoolteachers should have taught you when you were five.
The only explanation I can think of is that bankers are like tortoises; hatched rather than born. They dig their way out of the sand and crawl on their bellies into the world without the benefit of proper parenting. They look like humans when they grow up, but inside they have cold blood and invented values. Otherwise how could they not know that promises and deals are to be kept?
The bank has plenty of opportunity to get different terms if they feel the deal should be better for them. They get plenty of new loans, or customers want to change their loans, or customers who somehow fail to keep up their side of the deal. I use my line of credit for my personal businesses. I rely on it, and so I make the mistake of relying on the bankers' word. That’s their opportunity: Victims who, oops, believed their lies and committed themselves; time to jack the rate.
Ridiculous and disgusting, it makes me sick just looking at them wearing their suites and ties like they believe they are civilized people. Civilization is not just a suit and tie you reptilian brutes.
Good post. I like your
Good post. I like your weblog.
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