Because bankers measure their self-worth in money, and pay themselves a lot of it, they think they're fine fellows and don't need to explain themselves.
Sentiment: POSITIVE
If you want better behavior from bankers, then make their financial incentives more like those in the hedge-fund world - where managers have 'skin in the game,' and their net worth is tied to their long-term performance.
People get into debt head over heels because banks make it so easy to do so. Then the banks come along and act like these people who can't or won't pay their bills are the dregs of society.
Banks are run by executives, and executives protect themselves, and that does not always mean that banks are going to behave rationally.
People in retail banks are not smart. They have a business model that's quite difficult to not make money out of - but still they somehow manage it.
Of course, bankers were always interested in making money. But when bankers had clients, they bore some responsibility for the clients' welfare.
People who work in financial services don't have one shred of concern about the well-being of the people they serve. They're only interested in themselves.
People with banking experience haven't all flocked to the biggest banks; community banks and regional banks, along with smaller trading houses and credit unions, have some very talented people.
Bankers know that history is inflationary and that money is the last thing a wise man will hoard.
They explained to me that the bank cannot lend money to poor people because these people are not creditworthy.
At its core, banking is not simply about profit, but about personal relationships.
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