Way back when I was a lad Banks had a great reputation. no man was more esteemed than the local bank manager.
Now it is the total reverse.
Why is this so? to my mind it was de-regulation. This revolution caused by Paul Keating was meant to bring competition to the financial sector. It didn't. But it did bring large profits and ill though out bonuses.
In the 'old days' the local bank manager went to the company who wanted a loan. They looked at how the company did things. Examined who the customers were , the marketing etc.
These days the local Bank Manager is nothing more than a glorified bank teller. Loans to companies are put on spreadsheets and sent to Head office for approval.
Pressure is put on even the lowly bank teller to sell the customer more products whether they need them or not.
It simply more evidence that if you think the only thing that matters is if a company makes money then you clearly do not understand the capitalist system.
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