ART AND THE BOUNCY BANKER: The New Money Lenders

The Bruxist Collective's take on Art and (as Alfred Jarry might put it) P'finance.

A numerically dyslexic artist (and reluctant consumer) shares his dearth of financial wisdom and resulting frustrations with his Bank Manager. Read personal letters from the elusive Art to his even more elusive Bank Manager. See a comic rendition of a Day In The Life Of The Bouncy Banker. Art struggles to make sense of the senseless as the Authorities of Finance wobble but never quite fall down. Full of hot air they float above it all! When they bounce it is with impunity! Why are there no Remorseful Bankers? Can Art and Finance ever coexist? Do you have a Blue Chip on your shoulder?

When bankers get together they talk about Art. When artists get together they talk about money. Oscar Wilde

Sunday, March 7, 2010

The New Money Lenders

I quote from money.co.uk"

It's looking very likely that within the next year or so the face of British banking is going to be unrecogniseable from its previous incarnation.
Not only is this the year that Santander stamp their name firmly on our highstreets (Alliance & Leicester are next in line for a rebranding). But, after the unprecedented number of mergers, takeovers and rescues that have narrowed the financial sector considerably, 2010 looks like it's going to be the year we welcome a host of new brands into British banking.
While we're not setting our expectations too high, the new additions are looking promising and we're keeping our fingers (and toes) crossed that a new era of customer focused banking is about to begin.

Last night I watched the not very good film version of Animal Farm (featuring the voice talents of such as Patrick Stewart and Ian Holm) wherein we are reminded that absolute power corrupts absolutely. The story of Animal Farm by George Orwell is a story for the ages and though it was a reflection on the rise and disintegration of communism at the time it might just as well be a parable on how excessive zeal in any quarter—capitalism for example— will always bring out the worst in people. Let us only hope these new banks truly intend to help people manage their assets and their debt holdings responsibly and do not encourage bad practices. This will only happen if they are regulated. Regulation is a word that strikes fear into the hearts of the private sector. These new banks should embrace it if they want their public to trust them.

Here in the States a similar movement toward community banking, customer focused banking, is thwarted by the mountains that need to be climbed to move one's accounts (such as they are) into the hands of community banks that seem themselves to be precarious at best. It is easier to stay with the nasty banks and so, exhausted as everyone is, that is what they do. At least when the big banks collapse they'll do so with a bang not a whimper.

It is hilarious that I write about these things. I am not a money guy. I suppose it is this lack of fiduciary confidence that prompts me to try and figure all this out. I've always resented needing money to live. These days I resent it more than ever, and cast around for the next job to bring more in.