Creepy gets a toaster
Whoopdee doo, the City of Portland has deposited $2.5 million in 10 local banks and credit unions. That'll show Jamie Dimon!
"Big banks have gotten a lot bigger. Local leadership of these banks is overwhelmingly fantastic, but I have deep concerns about the company-wide practices and policies set by the home office."
You tell 'em, Mayor. You are "overwhelmingly fantastic," too. Although if you had waited until December, the local outfits might have given you a calendar.
| Posted at 11:34 AM | Permalink |
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Comments (6)
Well, at least the $2.5 million was borrowed from big banks, so the outstanding local big bank leaders are probably having a good laugh right now.
Posted by Sal | June 28, 2012 1:07 PM
Sal, that's exactly what I was thinking. Way to "stick it to the man".
Posted by MJ | June 28, 2012 2:33 PM
I'm kind of hoping that Wells Fargo tells the City that it's bailing out and moving its Oregon operations to...oh, Salem, or Eugene, or Medford. And vacating that big huge building that City Hall sits in the shadow of.
Can the Mayor find enough businesses to fill that vacant office space, and re-create those lost jobs? What if U.S. Bancorp followed? Portland's two tallest buildings would be icons of...VACANCY!
Posted by Erik H. | June 28, 2012 9:12 PM
The only thing for certain about this move is it will cost the city more money. Some of these small banks and credit unions simply don't have the Treasury Management capabilities that the larger banks do. It's more complicated than it might appear.
Posted by ron | June 29, 2012 4:38 AM
Don't forget the PR angle, which is all these clowns allow the dumbed-down or immature public to see. It demonstrates that our great leaders are willing to "bank local".
Posted by Mr. Grumpy | June 29, 2012 8:21 AM
What this also does is provide more COP employment to track these additional accounts, if they're actually used for transactions.
Posted by umpire | June 29, 2012 5:45 PM