Actually the Bank of America founded by her ancestor doesn’t exist any more. Hugh McColl of NCNB/Nationsbank acquired the venerable company primarily for its name. Which is why it is called BofA today but headquartered in North Carolina.
Giannini pingi!
"But Hammerness wondered aloud whether she would even be able to get a loan today from Bank of America."
"If i just went in as Mrs. Hammerness, I don't know, I might not be able to," she observed. "It's just bad, it's greed, greed, greed."
Like the U.S. government and their supporters: Keep those borders open for that never ending line of low wage labor.
Profits regardless of consequences.
Not exactly a ringing endorsement.
“A.P. Giannini gave away millions, but died with an estate of only $500,000. He turned down a $1.7 million dollar bonus that the bank wanted to give him, saying they should use it to help their customers instead”
Attitudes have definitely changed.
I agree with her 100%.
What isn't mentioned here is that Giannini was confident about the prospects for this new type of "middle class" banking for one very important reason: He believed this country's most valuable asset was the Protestant work ethic of its citizenry.
Those days are long gone, folks.
It is no suprise, since most banks, such as Bank of America, Citi, Chase seem to only hire new young exec’s to be rewarded for finding new ways to add fees and charges to their customers; in lieu of designing new and better services for the banking public.
They seen to think we are just their suckers that have no choice but to submit to their newest charges!
It is my sincerest belief this is the root of their downfall. No business can succeed that trashes it customers.
Ken Lewis is a (otherwise intelligent) hick retailer who doesn’t know how to be a financier or run a brokerage. He should stick to giving out toasters and hiring ex-Ms. Cotton’s to say “bless your heart” while doing so.