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Saturday, November 19, 2011

Nostalgia: 2008: Video: The Fireside Chat: Chris Eager of UB&T Speaks

Video: The Fireside Chat: Chris Eager, President of UB&T speaks on the economy, banking and how UB&T is responding, and has some thoughts for the community on surviving and thriving in these times.

This the classic video from 2008 that preceded the visit of ABC News to Evansville, Wisconsin to review whether small town community banking could be the answer for the big time banking problems of America.

What is interesting to me is that the very first rule of banking and investment is the "Know the Customer" Rule. But ironically in a big city like New York, brokers NEVER have face time with their customers, and in fact in some cases it is prohibited. Transactions are what matter. Period.

Thus the Wall Street Protesters today are saying exactly the same thing---that the needs of individual savers and investors and borrowers are ignored generally in the current scheme of things, and the system is not designed to serve the public.

Chris Eager asserts that small town banking, UBT, can serve and respond to the problems the community faces, and the Evansville community is not immune to the problems. Today, November 2011, there are far more foreclosures than back in 2008, and the challenge appears far greater than 2008------the challenge still remains.

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