Not All Banks Are Bad

Dear Friends,

Thanks to MSNBC.Com, we have this interesting video clip entitled "The Little Bank that Could" as reported by CNBC's Erin Burnett. It is about a commercial bank named Capital Federal Savings that exercised financial discipline, and had the wisdom to stay away from Sub-Prime, CDOs, and other tempting but risky way of doing business.

I know there's a lot of anger out there thrown at financial institutions and people who work in financial services sector, but we need to put things into perspective; not all banks are bad, and not all people who work in the financial services sector caused the banking crisis.

Th3ere are good people who go to work everyday, just like everyone else, except that they work in a financial institution, who are also facing the risk of losing their jobs today.

Unfortunately, if the world subscribes to "free market capitalism", it will enjoy economic booms and endure economic busts. Such is the way the world works in capitalist society. It is not perfect; but is there a better alternative?

Best wishes,

Ooi