The [HISTORICAL] Trouble with Banks?

Posted on March 19, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

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“I don’t trust banks and neither should you”

eric

   By Erik Kobayashi-Solomon

 [intelligent option investor]

More On Banks

I don’t trust banks and neither should you if you care at all about understanding the company in which you are investing.  While financial statements for all companies contain estimates, virtually every line item on a bank’s financial statement are estimates – to the extent that, taken as a whole, the statements become little more than complex, arcane works of fiction.

https://intelligentoptioninvestor.com/the-trouble-with-banks/?mc_cid=0744dc1505&mc_eid=aec9f6fde5

Conclusion

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UPDATE: Stock Market and Retail Banks

Posted on January 12, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

BY STAFF REPORTERS

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Stock Markets: Stocks ticked higher as investors zeroed in on Senate testimony from Fed Chair Jerome Powell, who is up for a second term. Powell said the Fed would do what’s necessary to get inflation back to normal levels.

Banks: Bank of America decided to make life a little less difficult for account holders without piles of cash. The bank—America’s second largest—announced on Tuesday that it would reduce overdraft fees by around 70%, from $35 to $10. BofA is also scrapping a $12 non-sufficient funds fee (for bouncing a check or making an automated overdraft) and will eliminate transfer fees for its overdraft protection service.The decision comes on the recently shined heels of similar moves by other large banks.

  • Capital One announced last month that it was eliminating overdraft fees altogether.
  • In August, JPMorgan increased its charge-incurring overdraft amount to $50 (it was previously $5).
  • PNC Bank introduced a 24-hour grace period on overdraft penalties.

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Doctors versus Retail Bankers

Posted on November 1, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Understanding Modern Reality

By Dr. David Edward Marcinko; MBA, CMP™

[Publisher-in-Chief]Dr. David E. Marcinko MBA

Doctors often carry notoriously heavy debt loads. Beyond the costs of a medical education are substantial costs for equipping, launching and staffing a practice. Technology changes fast these days and capital is required frequently. And, the era of eMRs, ARRA, HI-TECH and Obama-Care is upon us!

“I‘m a Banker – I’m Here to Help”

Unfortunately, retail bankers are now very conservative by nature; and the liquidity squeeze and financial meltdown of 2008-2009 makes credit even more difficult to obtain. It may be increasingly difficult to borrow money, especially since modern bankers know that a medical degree is no longer the guarantee of a steady and high income that it once was in the past. As more than one banker has often opined to me,

“We don’t usually loan money to doctors who really need it.”

Nevertheless, the more business a physician does with a bank, the better the terms that can be obtained; even thought hey may also not have a clue about what the practitioner can do to better compete in the managed care arena.

Why Big-Banks Hate Customers

http://articles.moneycentral.msn.com/Investing/JubaksJournal/why-big-banks-hate-banking.aspx

Local Community

Some bankers do have a good concept of local community politics however, for those not familiar with a practice venue. They frequently can provide references to more focused advisors, and bankers generally do not charge a fee for their advice. But, banks selling products are doing so according to their governing regulations as “prudent experts” under ERISA, and are not necessarily held to a fiduciary standard in any broader sense.

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Conclusion

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