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I own a Bank/Credit card company. Murtza is right when it comes to the returns. But his vision of the whole process is naive. The "clients" know exactly where

I own a Bank/Credit card company. Murtza is right when it comes to the returns. But his vision of the whole process is naive. The "clients" know exactly where the money is going, they do know about the returns, there are many reasons that make a client choose a investment, sometimes is about the taxation, compensation, or something more obscure. Sometimes that very same client had to put money there because it owes an awful lot of money to that same bank. No victims there.

jaysonelliot 15y ago
It's awfully arrogant and myopic for anyone in a position of power in the finance industry to utter a phrase like "no victims there."
- eduardordm 15y ago
  And I'm serious about that statement. The only reason someone would use such bank products is because they actually owe something to that bank. It's not like you, or me, are investing. Those investments are part of a larger deal, pretty much like "Hey, I give you 500k but you need to open X account with us with XYZ fees, ok?" or "Look, if you don't pay us the 10m you got from us, you need to put at least 2m in that specific investment" This is not like you or me are investing our savings. This is some obscure, barely legal, deals.
- billpatrianakos 15y ago
  I don't know, the guy has a point. Maybe you can explain why it's myopic and arrogant for us because I thought his explanation was perfectly reasonable. In the situation he describes it makes sense to say "no victims there". I don't see a reason he'd lie about being in the industry and I also think his job gives him enough credibility to comment like that. I know we all hate banks lately and rightly so but I feel like a lot of us are blinded by our bias and can't accept a valid point when it comes from them. That said, I could be wrong but I don't know enough to be sure. I saw a comment from someone in the banking industry that seemed perfectly valid. If its not I'd really like to know what is wrong with it.

jaysonelliot 15y ago

It's awfully arrogant and myopic for anyone in a position of power in the finance industry to utter a phrase like "no victims there."

eduardordm 15y ago
And I'm serious about that statement. The only reason someone would use such bank products is because they actually owe something to that bank. It's not like you, or me, are investing. Those investments are part of a larger deal, pretty much like "Hey, I give you 500k but you need to open X account with us with XYZ fees, ok?" or "Look, if you don't pay us the 10m you got from us, you need to put at least 2m in that specific investment" This is not like you or me are investing our savings. This is some obscure, barely legal, deals.
billpatrianakos 15y ago
I don't know, the guy has a point. Maybe you can explain why it's myopic and arrogant for us because I thought his explanation was perfectly reasonable. In the situation he describes it makes sense to say "no victims there". I don't see a reason he'd lie about being in the industry and I also think his job gives him enough credibility to comment like that. I know we all hate banks lately and rightly so but I feel like a lot of us are blinded by our bias and can't accept a valid point when it comes from them. That said, I could be wrong but I don't know enough to be sure. I saw a comment from someone in the banking industry that seemed perfectly valid. If its not I'd really like to know what is wrong with it.