Everywhere a bank...
A story in the St. Louis Business Journal relates that the Chase Bank will be opening 25 bank branches in the St. Louis area this fiscal year and hire more than 200. Chase has been expanding all over the country this year.
I find it difficult to follow all the ins and outs of banking, investments and other fiscal things, but what I have noticed is the enormous number of banks located everywhere in this area. We drove from Collinsville to Edwardsville over the past weekend and there were banks on every intersection all along 159. Most areas had more than one, the banks faced each other from across the road. It got to the point where we gave up trying to count them.
So what is with all these banks? Banks we've used for years have one by one sold out, changed names. That is the real news to me. The new version of an old bank is never as customer friendly as the previous one. Or as reliable.
Free enterprise. They must make money or their would be very few banks. Our fellow Americans have lots of debt, and who carries the debt, banks. One study said most Americans could not come up with $1,000 to pay for an emergency.
So we have banks to lend them the money.
Posted by: Frank K | November 26, 2019 at 11:40 PM