The Banking industry

[theonetrueruss]

After a bit of thought I have decided that the banking/finance industry is one of the big problems in this country today. There are numerous areas where this industry has supplanted organized crime as some of the biggest thieves in the nation. On top of that they have managed to do it with the blessings of our government which has obligingly made

Comments

[nausved]

Yeah, I'm not too fond of banks--at least not Wachovia (which swallowed up the much better bank I used to go to).

Small, local banks--ones with only a handful of branches--tend to be not so bad, though. They actually treat you like they want to keep your business. I've been thinking seriously about transferring all my money to a one-branch bank in the very near future.

[theonetrueruss]

Yeah.. but the small ones still participate in the industry which has scewed the legal relationship we all have with them in their favor with the help of congress of course. Perhaps I am too cynical but I think they are all crooks.

[nausved]

Still, a shift toward better alternatives (small banks) will send a strong message to the industry that they had better get their act together if they want to remain competitive. Another possibility is to not use a bank at all, but that comes with its own risks as well.

Of course, the best course of action is consumer advocacy--to adjust laws to hold banks more accountable. But in the meantime, where do you put your money?