Why Would One Compare Pl;ates

age protects against folly not

Wer durch amerikanische Zeitungen blättert, sieht derzeit eine ganze Armada von teuren, ganzseitigen Anzeigen aus der Finanzindustrie. Banken, Versicherungen und andere Marktteilnehmer versuchen verzweifelt, regain the trust of customers. Not an easy thing these days!

How can we do then? Let's see, how to make the U.S. financial institutions, here are some headlines of their ads: "In markets like these, put YX's experience to work for you"

• "What 133 years of managing risk tells us about today: Our grow and protect philosophy has never been more right"
• "The key to navigating today's economy is to think long-term. After 120 years, it's second nature to us."

And? Confidence back? I have my doubts. Why? Therefore:

• Lehman Brothers (founded in 1850, on 15.9.2008 Bankruptcy protection sought, is being sold piecemeal)
• Washington Mutual (founded in 1889, sold on 25/9/2008 emergency basis to JP Morgan)
• Wachovia (founded in 1879, on 29.09.2008 the banking business sells an emergency basis to Citigroup)

These examples make it clear : Age does not protect from foolishness. Even in the non-banking!

Years of experience has been good. But it is not a guarantee that a bank will continue doing everything right. As much help rather good risk management, a sustainable business strategy and compensation policies, entering into the overly large risks not yet promotes. Therefore, the money das diese Anzeigen kosten, wohl aus dem Fenster geworfen. Mich haben sie auf jeden Fall nicht überzeugt.