I get the idea in theory but years in banking tell me that
by wpkirish (2024-02-23 11:08:29)

In reply to: The "affluence" of the HS doesn't matter  posted by El Kabong

Cannot Reply Return to Political

about 99% of the adults int he world have no clue about banking and loans. The simply want to know two things am I approved and what is the payment?

This lesson really hit home for me when one particular customer went into default. He owned a very succesful bank consulting business. His specialty was advising community banks on their Asset Liability makeup and working with their Aseet Liability Committees. He worked with banks all over the country and was a prominent speaker at convestions and with regulators. He developed a product that would have been fantastic for community banks to maintain large deposits at a lower cost of funds but was shot down by what I will generously call the corrupt ratings agencies.

We had a loan with him. The new product got him over extended and we were trying to work out a resolution. We had a number of loans that were cross collateralized. That person who Banks relied on in managing their asset liability risk had never heard the term cross collateralization and had no idea what it meant.

Whether you agree or disagree with what Biden did the idea those presentations would mke everyone understand what they were doing is very naive. Particularly when you factor in not every parent has your education and experience.


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