The reality is all glitz and packaging and the old shell game:
(Elizabeth) Warren said that banking has changed over the years, from an old model that she called “simple and effective: consumers shopped around for products and terms, and lenders evaluated the creditworthiness of potential borrowers before making loans.
“Today, the business model has shifted. Giant lenders ‘compete’ for business by talking about nominal interest rates, free gifts and warm feelings, but the fine print hides the things that really rake in the cash. Today’s business model is about making money through tricks and traps,” she said.
Needless to say, the
proprietors of the financial medicine shows banksters are protesting.
In labor relations, it is a truism that unions are the creation of management. Fair management does not cause unions.
In finance, regulation is the creation of the medicine show guys.