Article of Interest: Banks

I always enjoy William Watson articles. The one linked here is titled "I could learn to bash the banks."

I'm not for populist bank bashing for its own sake either. But I also know, from experience, that the criticism they face is often well-deserved. The lack of imagination and innovation among management I witnessed left me jaded enough to wind down my career and enter another field. In the banks it's think alike or die. There's no room for people with ideas.

I liked this quote especially, "Vigorous competition is the one and only way to keep banks honest."

Group think has settled in the banks and the result is a generic brand of existence.