They’ll show you. They’ll show all of you! Read more »
Vikram Pandit tests out the goods at Citi’s new branch, which the bank opened yesterday and celebrated with a red carpet and a waiter carrying ‘a platter of bite-size donuts and a sugary dipping sauce.’ [Dealbook via HNM]
Maybe that would get the public off their backs. Fed up with all the shit being thrown at them for being blood-sucking destroyers of the world, some Sachsians are starting to wish they were an old fashioned deposit-taking bank with 24-hour ATMs. At least it would spare them the seemingly-impossible task of explaining to the Plebes how the firm actually benefits society.
At least Jamie Dimon can say JPMorgan makes student loans and gives you free checking accounts. Goldman “facilitates” clients. Read more »
Ok, so we can sort of understand the utter ignorance of many lawmakers about markets and modern finance in general. We can’t expect all of them to possess the kind of Maxine Watersesque encyclopedic knowledge of swap credit defaults and other complex derivatives.
But never using, and therefore by extension, not knowing how to use an ATM machine is just beyond dumb. I mean, how out of touch with reality do you need to be to still drive up to the bank teller, fill out a withdrawal slip and wait for the cash?
Just ask Democratic Sen. Ben Nelson. Read more »