I think I said this before, here on doitinvest.com: banking is a trust business. And when the trust is lost, you can bet that half of your clients are almost gone for the emergency exit.
The reason for this is quite simple – in banking a customer buys your ability to deliver a promise. He/she wants your financing for the long term (mostly desirable for the seller), your ability to generate revenue for the customer, your superior investment yields. It is all about the money.
In their book “The Trusted Advisor”, the Harvard professors who authored it argued that a counselor of any king must strive in essence to do 2 things:Read More »What Means the Goldman Sachs Fraud Charge for Other Banking Stocks?