Quote:
Originally Posted by Big Grey Wolf
Sorry guys their are two types of Bankers. The "Good Banker" that works with your company during the good times. Then the Eastern big banks replace the managers with the boys that swing the baseball bats. CIBC was told by head off to call NAFA's loans when cash flow dropped below "keep your butt safe level". Now many thousand hard working trappers will loose $$ from their hard work.
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This old wives tale has been around longer than me, and that is a long time. I spent nearly 35 years in banking, some with 2 Eastern Banks, and some with ATB. The old saw about replacing Managers when times get tough is pure fiction. That said, nearly 100% of your experience with any Bank is dependant on how good the person you are dealing with is but no matter how good the Manager or Account Manager is, he can't offset the effects created by Company Management and Directors that make a whole bunch of bad decisions and run a once great company into the ground. They also can't protect suppliers, like trappers, from continuing to supply product on credit to a company that is clearly headed down the drain.