Banking Matters–Bing’s Views

by Linda Beale

Banking Matters–Bing’s Views

The Bing Blog is one of those well-written something about everything we’ve all thought about blogs that everybody should read at least every once in a while. So let me suggest a proper post for your introduction, if you haven’t looked there before. It’s a list of suggestions for what every bank ought to do. I doubt if there’s a soul amongst us who would disagree with any of them–except, perhaps, the bank personnel and especially managers who put the current rules into place. See The Bing Blog, New Banking Rules We’d Like to See, Mar. 2, 2010.

Here’s a sample of the new rules suggested:

I’d like there to be a rule that the bonuses a bank pays to its top 10 executives cannot exceed its profits.

(Beale here again) I could add a bunch, but one of the obvious ones Bing leaves out is: “no bank can send out a statement changing its rules to provide even higher fees and service charges in which it touts the rules as though they are for the client’s benefit while setting them to work in ways that will inevitably lead to more profits for the banks.”
crossposted with ataxingmetter