COMMENT: The distinction between relationship and transactional is so compelling and explains my own puzzlement in dealing with ‘relationship’ managers.In Asia they have to sell structured products — even now, after 2008 — or be fired.They are under enormous pressure and cannot focus upon anything else so the word ‘relationship’ is a misnomer. The staff turnover is enormous.
Good fortune attend you in Warsaw !
Bill
REPLY: This is really wiping out banking as we once knew it. The solution, if this is still fractional banking, is the nationalization of banks. This is the rumblings coming from key sources behind the curtain. This is getting very scary. Once government seizes banking, they can prevent you from buying or selling by just blocking your accounts or cleaning them out at will. This is the battleground between humanity and the coming authoritarian age. I do not know what more I can do. My condolences to those under 40. At least I have an expiration date to save my ass from this world they are determined to create. It just doesn’t have to be this way. We do have a choice.
