Banks, Capitalism and Competition

Have you ever had a banker call you up and let you know that you could receive a higher interest rate on one of their other types of accounts?

I haven't.

The variety of interest bearing accounts at banks is overwhelming. I believe that it is overwhelming to create opportunities for "maximizing bank profitability".

Does the bank find ways to attach and increase fees on all kinds of accounts and services?

Yes.

Why?

To maximize shareholder wealth.

The bank says that they need to protect their own interests. They need to stay strong in the market place to be safe for their customers and shareholders.

Capitalism promotes competition. Competition promotes excellence. Excellence maximizes our potential.

But, competition often leads to cheating, overreaching and taking advantage of others.

As one ages, competition becomes less important, and the synergies of family, unity, teamwork and community become much more important.

In our telestial world, there are limits to maximizing potential.

Monopolies created out of competition distort that potential.

The spirit of capitalism needs to change.

It might as well start with banks.

Instead of corporate America having the mandate to "maximize shareholder wealth", maybe their mandate should be to "maximize shareholder potential through honorable competition and the synergy of community".

Maybe having a national bank, owned by taxpayers(that would include corporations), competing with corporate America, would help direct us that way.

The synergy of community is at risk, too, however, with the weaknesses inherent in the competition for power within socialism.

The old adage of absolute power corrupting absolutely, unfortunately, is often true.

Just as the banker is maximizing his and his shareholder's wealth, governments and the individuals governing, often protect their own self interests.

No wonder that we are in the economic mess that we are in.

The founder's of our constitution were really right.

There needs to be a balance between, and including, private property and government.

As the American experiment continues, my hope and prayer is that we the people will be wise, compassionate, productive and honorable in our dealings. I think that many are.

It feels to me that we the people, more than ever, need to trust in God, as we are not perfect.

I love Abraham Lincoln's famous quote, "Let us have faith that right makes might, and in that faith, let us, to the end, dare to do our duty as we understand it."