Calculating Your Banks Trust Worthiness Score, Their MBTQ Score – Never Heard of it? It’s New

In these past few years it seems every bank, brokerage, investment bank and banker collapsed.Former Lehman insider, Lawrence G. McDonald said that it takes just one phrase to understand the failure of Lehman Brothers:”24,992 people striving hard, making money, and about eight guys losing it.”Not long after Lehman came the fall, failure, merger or buyout of others, Goldman Sachs, Merrill Lynch, Wachovia, Citigroup, Bank of America, GM and literally hundreds of smaller banks. And of course A.I.G.Some even double and triple dipped into the TARP funds. Citigroup took a double handful for insurance against “losses” in addition to two other trips to the head of the line.All of this is old news. The part that is so disturbing is these are the players that caused this mess. They made mortgages on property they knew was not worth what they were loaning because they thought they were diverting “risk” onto someone else with their various derivatives.After receiving what must be trillions of dollars by now, they stand in judgment of us consumers and determine whether or not we are credit worthy.They have consistently demonstrated their inability to run their businesses in a way that does not risk what they control, but want to control what they don’t own.So I have come up with the MBTQ score. My Bank Trust Score.The scale is from 0-100.They all start at 100.If they receive TARP funds or any other form of cash injection from taxpayers of any country subtract 50. That means most are now sitting at 50 MBTQ.In the banking world they would just lower the standard and call 50 the new 100.The MBTQ does not do that.Did they use the 9 months leading up to the start of the new credit card laws in February of 2010 to stick it to the same people they won’t give a loan to, even after they received a loan from us? That cost them another 25.That puts most of them at a 25 MBTQ.In the MBTQ that means you can trust 25% of what they say and then only if they can prove a history of at least 36 months of verifiable references directly related to the topic of the moment.In lieu of those references they if can submit a handwritten note from their great-great-great grandmother that says she tried to raise them better than that.If she is not available, they go to 10 MBTQ.A 10 MBTQ means your selected institution is incorrigible. So likely can never be trusted.In the hope I am completely off base here, it is highly recommended you payoff all of your debt. Take your time keep yourself stable, but get debt free living in your head.That will bring them to their knees. Neighborhood banks will be reinvented. Responsible behavior will blossom in time and life will be good again. Any new bank that actually acts in a responsible fashion starts their MBTQ at 100. It won’t be difficult to maintain 100.Don’t screw your customers, those are the people that actually walk in your door and do business in your town.
Don’t screw your country.
Or any other country.
If you make a stupid investment and lose, you pay for it. If you can’t you go out of business. The attrition rate will be high till they understand we are serious.
The principals of each bank will be held personally responsible. Responsible people have nothing to be concerned about.All bets are off if any of these companies still retain any of the management from prior to the recent collapse. The bunch at the top and those they have trained must go. Just go. You have caused too many bubbles and profited from the victims your activity created.If they don’t leave, their MBTQ score is Zero. At the moment there are a lot of Zeros out there.If you are reading this and are a bank or other financial institution that did not participate in TARP, or CDO’s etc. You did not revel in the destruction of the economies of entire nations. Tell people, tell them often, say it loud so we can find you, so we can do business with you. Please? You deserve a 100 MBTQ. Smile, things really are getting better everyday,J