A brief lunchtime observations. It’s a busy day.
One of my favorite quotes from Alton Brown is:
Here’s what it comes down to kids. Ronald McDonald doesn’t give a damn about you. Neither does that little minx Wendy or any of the other icons of drivethroughdom. And you know what, they’re not supposed to. They’re businesses doing what businesses do. They don’t love you. They are not going to laugh with you on your birthdays, or hold you when you’re sick and sad. They won’t be with you when you graduate, when your children are born or when you die. You will be with you and your family and friends will be with you. And, if you’re any kind of human being, you will be there for them. And you know what, you and your family and friends are supposed to provide you with nourishment too. That’s right folks, feeding someone is an act of caring. We will always be fed best by those that care, be it ourselves or the aforementioned friends and family.
We are fat and sick and dying because we have handed a basic, fundamental and intimate function of life over to corporations. We choose to value our nourishment so little that we entrust it to strangers. We hand our lives over to big companies and then drag them to court when the deal goes bad. This is insanity.
What brought this to mind is an article in the NY Times about a 44% fall in earnings at Bank of America. Quoting that article:
The bank said that higher income from higher lending margins and fees from its consumer banking operations along with stronger investment banking results helped it muscle through a challenging economy.
Still, the bank was forced to write off another $709 million related to complex mortgage investments and buyout loans that it was unable to sell.
Translation: B of A doesn’t care about you, nor that Savings and Loan around the corner. The image we have from “Its a Wonderful Life” about altruistic lending institutions wanting to do good in the community and help folks get into homes is bunk. They are in the business to make money. They make money by giving loans; this money offsets other bad decisions they make. They make money by maximizing the fees they charge you; again, this offsets the bad decisions they make. They lose money by paying interest on savings accounts, and by providing “free” services.
Perhaps, if folks remembered this little fact, we might have better educated consumers.
