“The truth is, you believe you're the bank client, but you haven't been for some time now. That's not with your deposit that the bank earn money, …”
I thought I was a good customer running my business and banking cash positive. That all changed back in the M&A/LBO era. “Underutilized assets” was/is the term used. “Asset stripping” was the practice applied. “Fully funded” pensions a no-no, IRA/SEP/401k transition to securities in the market was the pitch.
They killed small business by sucking liquidity dry, forcing them to turn to borrowing instead of self-funding, which adds an expense but will make SB “lean and mean.” No, it increased cost of operation.
Off-shoring was the point of no return, for it interrupted generational knowledge transfer. Killed small business in two generations.
But “They are the destroyers,” and proud of it, no money in any kind of durability, no money in antiquities, the money’s in the MIC—build it, blow it up, wash rinse repeat.
