One of my favorite movies is “The Hustler” (the original with Paul Newman and Jackie Gleason). Mr. Newman played “Fast Eddie” Felson an up and coming hustler who wants to be a success, and his goal was to beat Minnesota Fats (played by Mr. Gleason). The movie is an intricate set of stories, one of which is the basis of my thematic premise about banking and the Hustler.
“Always leave a mark with some money in their pocket, that way they keep coming back”
That is how banks have done it for years, but now they are finding new and more exciting ways to bleed some money out of you, but not so much that you decide to bank somewhere else (also, they are all doing it, your only other option is to put it in your mattress).
My opinion of the banks’ thinking in this area? Let me quote Fast Eddie from the Colour of Money:
“Money won is twice as sweet as money earned.”
They aren’t earning all this extra money, they are winning it off you, think about it.
My apologies if I sound like I am picking on the Banks, this is actually true of all the Service Industries we deal with, especially the Cell Phone Companies, the Internet Providers, the Phone Companies, and the Insurance Companies.
Better learn how the game is played, or you are going to get hustled.