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Jim Hightower
Otherwords / Op-Ed
Published: Monday 14 May 2012
“The über-rich, of course, are used to such coddling, but now a class of customers that bankers have dubbed the ‘mass affluent’ get cookies, too.”

Coddling the 10 Percent

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Another way that the rich are different from you and me is that their bankers serve them freshly baked chocolate-chip cookies.

The über-rich, of course, are used to such coddling, but now a class of customers that bankers have dubbed the "mass affluent" get cookies, too. Think you might qualify? You do... if you have a minimum of $500,000 to open one of these mass-affluent accounts. Otherwise, you fall into a category called "lower-margin" customers — so go get in the ATM line, Bucko.

This half-million-dollar-and-up bunch are not the 1-percenters. Instead they are the 10-percenters, and they've suddenly become hotly coveted by JPMorgan Chase, Citigroup, Bank of America, and other big chain banks. To reel in these mid-level richies, bankers are offering to pamper them lavishly.

For example, rather than having to breathe the same air as the riff-raff, they get to bank in cushy, private lounges. The carpets are plush, the cookies fresh, and a nice touch of wine and cheese might be available. There are no lines and no tellers to deal with – instead, these affluent swells get "relationship managers" who cater to their banking needs, including being available after hours. And here's something completely astonishing: one bank president says of her advantaged clients, "We'll come to you. If you want us to meet you in your home on a Sunday, we'll do that."

The chain bankers are opening hundreds of these posh, new banking nests for the affluent in upscale neighborhoods across the country, even as they are feverishly inventing new fees and coldly shrinking services for you and me. It's another move by the Powers That Be to wall off the good fortunes of the privileged few from even having to be in the same room as America's non-affluent majority. Indeed, they're creating their own exclusive America.



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ABOUT Jim Hightower
National radio commentator, writer, public speaker, and author of the book, Swim Against The Current: Even A Dead Fish Can Go With The Flow, Jim Hightower has spent three decades battling the Powers That Be on behalf of the Powers That Ought To Be - consumers, working families, environmentalists, small businesses, and just-plain-folks.

A Parasite is easy dealt with

A Parasite is easy dealt with once their psychopathic protectors are taken care of. Those that do not create or work for what they have deserve nothing and deserve to be deported.

The top 10% haven't earned a single penny of their stolen goods.

OK - let's beat them with

OK - let's beat them with their own consumer/money-driven tactics - withdraw your account from any bank who puts in these luxury spaces!

This affluence will last

This affluence will last until the next inevitable swindle, thanks to no regulation of banking by our Alleged Representatives on the take, and should be just after the next election when it's too late for them to realize that their "Relationship Managers" were nothing more than glorified Bank Tellers who didn't even bother to give them a Reach-Around!

Ouch! And....

Welcome to the "99" ....or is that "Welcome to Walmart" ?

The scum that has floated to

The scum that has floated to the top needs to be skimmed off and thrown away because it has caused all that is under it to begin to putrefy.

We get to run off to real

We get to run off to real estate to try and get ahead in the property value speculation and have them turn it into a fund too. The .25% interest on account bunch. Rich men beware you have all the money so they are after you. All of them the consultants, banks, experts or all kinds, body guards and security experts, out to cheat you out of as much as they can and coddel you too just like the way you got yours directly or indirectly. Staying rich is much harder than getting rich.

That makes it appear that any

That makes it appear that any chance of bringing criminal charges against the banksters responsible for this economy will be swept under the carpet. Our illustrious president doesn't have the balls to stand up to the REAL powers that be, actually, he's certainly on the take like the rest of the politicos. He talks a good story, but actions speak much louder than words.

Blood, sweat and tears

Blood, sweat and tears Riff-Raff and proud of it! I'll bake my own cookies thank you!

Norman Allen's picture

Sounds like the

Sounds like the Congresspeople/mid-rank military industrial complex officials, the political appointees of the Executive, the high ranking Judiciary and the corporate mid-level officers got their own personal banksters, treating them in the manner in which they have become accustomed to at the expense of 90%!

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