Category: Laura Berman's Blog
Posted by Laura Berman (The Detroit News) on Thu, Apr 30, 2009 at 5:19 PMHigh finance, small net
This is a situation that others -- Angelina and Brad come to mind -- must face after getting married. Which partner's bank gets the new business? I don't know where Angelina's son Maddox does his banking, but my daughter, age 8, has her own bank account. Her elementary school has a deal with Chase to enlist little savers. That's where my husband banks, too. In other words, theirs became the lead bank, by default.
Chase, relatively new in town and eager to gobble up others, sent out a friendly bank manager to woo my business -- well, he came out from behind the counter. This led to delusions of grandeur and the inevitable comparisons to Angelina Jolie. Now the courting -- no toaster but a cash reward for opening an account --is paying off. After months of trying to assuage the old Brand X bank, I'm going for convenience over loyalty.
This leaves me with one question regarding high finance and bank profits: JP Morgan Chase earned $2.14 billion in the first quarter of 2009 and the business world cheered. But that piddling profit came after receiving $25 billion in TARP funds. If Treasury lent me $25 billion, I'd report a profit in excess of $24 billion. Wouldn't you?
In the meantime, here's a cheesy video of Angelina, Maddox and son Pax.
Angelina Jolie With Pax And Maddox - Watch more amazing videos here
