The most common headline in the worlds media in the last 3 years reads something like 'banks rib public off'. We have all had a discussion with friends an family about the their ridiculous behaviour, lets just hope there are innovative alternatives in the making in light of the events over the last few years.
Its all about control, large numbers buying into 'products' wrapped and branded by financial institutions puts them in control. A large amount of control brings with it both good (allows them to bulk purchase on the wholesale market) and bad points (manipulate the market place). Lets start buy taking a look at the products offered by one of the main stream operators in the US market https://www.bankofamerica.com/index.jsp.
From checking to current accounts to pensions investments/stock trading and a full range of insurance/assurance products - not forgetting credit cards mortgages and personal loans- they have all angles covered. I am looking to get a discussion going that will debate alternatives to these services - after all the banks are only 'middlemen' between the customers (us) and the wholesale market (the worlds governments). Feel free to leave your thoughts - i will access all opinions and publish a report providing feedback to the general public - your opinion matters.
Thursday, March 4, 2010
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