It also demonstrates the view people had of commercial banks in the late 1970s that the public would buy an explanation like "we're the type of people who wear

It also demonstrates the view people had of commercial banks in the late 1970s that the public would buy an explanation like "we're the type of people who wear a belt and suspenders." If any bank tried to claim today that they're so incredibly, overbearingly cautious, they'd mocked as being obviously full of shit.