tag:blogger.com,1999:blog-235433516644980443.post3247651103348247933..comments2024-03-27T05:08:10.195-04:00Comments on Jeff For Banks: Fact or Fiction: Bank Service Is Getting WorseJeff Marsicohttp://www.blogger.com/profile/12153599647481141591noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-235433516644980443.post-68524743194353937672016-08-10T15:37:24.632-04:002016-08-10T15:37:24.632-04:00Anonymous,
I hope your prognostication about 2k b...Anonymous,<br /><br />I hope your prognostication about 2k banks doesn't pan out!<br /><br />But you point out an obvious issue: succession. When I taught at a banking school a couple of years ago, the CEO of the school asked all 700 students: "Who wanted to be a banker (not an investment banker) when they were in college?" Queue in the crickets because nobody raised their hand.Jeff Marsicohttps://www.blogger.com/profile/12153599647481141591noreply@blogger.comtag:blogger.com,1999:blog-235433516644980443.post-10854899564213465962016-08-07T13:19:42.874-04:002016-08-07T13:19:42.874-04:00"This feels like how socialism begins"
..."This feels like how socialism begins"<br /><br />Yes. But the scary genius of how it's being done is that it is happening so slowly that it hardly warrants a headline outside of banking and finance publications. And so few people are in tune with the consolidation of the banking industry and lack of new start-up banks that it will remain largely unnoticed until the balance of powers is extreme. Low interest rates will continue to push the senior bankers to retirement, new talent will stay away from the banking industry and potential returns for de novo bank investors will remain unappealing. All of this equates to Clinton II exiting her 2nd term with about 2,000 banks left in the US. Scary.Anonymousnoreply@blogger.com