Is Business School Good Business?
A Tale of Two Industries

Why Does My Bank Hate Me?

Every day my bank sends me an email asking if I want to borrow money.  When I stop by the branch they ask if I'd like a home equity loan.  When I go to the customer service desk they ask if I'd like a pre-approved credit card.  Since I constantly don't respond, they called asking if I'd like to borrow money with no interest for three months.  The only time they mentioned savings was in a solicitation for a variable annuity which was offered in the absence of any understanding of my personal finances.

Now call me stupid, but in business school I was taught that credit is bad and equity is good when it comes to personal finance.   I was taught that finance requires planning.  All you demonstrate is a complete disregard for me and my money.

How about this idea.  Help me save more with programs that boost my interest rate.  When you've earned my trust I'll expand my relationship and pull some of that money that's been moving to other institutions that I trust more.  From there we'll grow together, adding investment vehicles and then, and only then, will we consider some of those new fangled instruments that promise higher returns, but often prove to be illiquid such as the auction rate bonds that you sold.  Ok, skip that last point.  Let's say I'd get one of those credit cards you are begging me to take. 

If you are particularly nice to me I might actually use it.

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