time.com— Financial giants are wobbling. Lending is tight. The FDIC is murder on start-ups. But there's never been a better time for a small bank. Since last summer, at least 30 groups have filed to start new banks.
Mar 16, 2009View in Crawl 4
sorry for the long posti posted this comment last wk"i had a business school lecturer who foundall types of companies became less profitable after their founder leaves- maybe they just turn into bureaucraciesso nows the time to break up microsoft for exampleto let their smaller competitors have a bite at the appleive heard Bill Gates Snr believes wealth works best for an economy if you keep spreading it around"so im now thinking it might be a possible answer to the problem of Corporatism in Americaie- as soon as any company or bank or any other enterprise reaches a certain size and the founder leaves - it is officially broken up by govt to allow the market to decide which of its smaller newer competitors should now get to be the "market winners"i spose its the same principle as trimming your lawn makes it healthierin other words make the free market work more freely by clearing out large successful businesses at the end of their natural lives - that time being when the founder leavesthis is just a theory Btwive read on Digg a lot how US ppl think big govt - leads to big bureaucracy insulating it from the will of the ppl - leads to inefficiency do you think the same logic applies to big business whose size and financial reserves insulates them from competition - the will of the consumer which also leads to inefficiency
Becuse Credit Unions not having to pay income tax or participate in the CRA (Community Re-Investment Act) really seems fair for other small community banks and local economy?
one more reason to stop bailing out banks with tax payer moneyBad business fail is natural capitalism. If you save these banks and reward them for doing things the wrong way they will do things the wrong away again
I agree with everything you said apart from this "small banks are thriving because big banks have forgotten where their money is coming from".The big banks know exactly where their money is coming from! THE FREAKING GOVERNMENT!
My wife and I were getting hosed at one of the bigboys with fees and rude service, crappy rates, etc till we went with a small regional credit union. I was really impressed with how nimble such a small operation could be. They were waaay ahead of the curve on technology, service, and their rates were hella better than any bank we've been with.I'll be D@$%^# if I'm EVER going back to bigboy banks!
hippymickMar 16, 2009
sorry for the long posti posted this comment last wk"i had a business school lecturer who foundall types of companies became less profitable after their founder leaves- maybe they just turn into bureaucraciesso nows the time to break up microsoft for exampleto let their smaller competitors have a bite at the appleive heard Bill Gates Snr believes wealth works best for an economy if you keep spreading it around"so im now thinking it might be a possible answer to the problem of Corporatism in Americaie- as soon as any company or bank or any other enterprise reaches a certain size and the founder leaves - it is officially broken up by govt to allow the market to decide which of its smaller newer competitors should now get to be the "market winners"i spose its the same principle as trimming your lawn makes it healthierin other words make the free market work more freely by clearing out large successful businesses at the end of their natural lives - that time being when the founder leavesthis is just a theory Btwive read on Digg a lot how US ppl think big govt - leads to big bureaucracy insulating it from the will of the ppl - leads to inefficiency do you think the same logic applies to big business whose size and financial reserves insulates them from competition - the will of the consumer which also leads to inefficiency
coldkill3rMar 16, 2009
Don't tell Kevin.
tondezzMar 16, 2009
Becuse Credit Unions not having to pay income tax or participate in the CRA (Community Re-Investment Act) really seems fair for other small community banks and local economy?
questionqqqqMar 16, 2009
one more reason to stop bailing out banks with tax payer moneyBad business fail is natural capitalism. If you save these banks and reward them for doing things the wrong way they will do things the wrong away again
ninjaturtles1Mar 16, 2009
I agree with everything you said apart from this "small banks are thriving because big banks have forgotten where their money is coming from".The big banks know exactly where their money is coming from! THE FREAKING GOVERNMENT!
bobbi21Mar 18, 2009
Yeah, I agree. If you're gonna give money to anyone give it to the ppl who are succeeding.
neosolaceMar 18, 2009
My wife and I were getting hosed at one of the bigboys with fees and rude service, crappy rates, etc till we went with a small regional credit union. I was really impressed with how nimble such a small operation could be. They were waaay ahead of the curve on technology, service, and their rates were hella better than any bank we've been with.I'll be D@$%^# if I'm EVER going back to bigboy banks!
rtmagMar 18, 2009
In a word: Accountability!
rtmagMar 18, 2009
I live in Rochester, MN, and was surprised to see Olmsted National Bank that high on the list.
Closed AccountApr 5, 2009
I call it Yo music <a class="user" href="http://www.yomuzik.net">http://www.yomuzik.net</a>