[jjeaff]

1% is quite a bit when you are talking about this much money. That's $2B a year if you have $200B in AUM. They were probably trying to keep their yield up because without it, you can't offer competitive savings rates which could cause your depositors to trickle out to one of the many other banks that are offering a higher yield.

[anon84873628]

>They were probably trying to keep their yield up because without it, you can't offer competitive savings rates which could cause your depositors to trickle out to one of the many other banks that are offering a higher yield.

It sounds like this was the "right decision" in retrospect. If so much startup capital has been deposited into your bank that you can't safely steward it while turning a profit, it seems the only answer is to let that money go elsewhere.

Zeltice started this thread by asking, "why is this greed and not just incompetence?" It sounds like both. The corporate officers were stuck in a mindset of "we must keep growing and turning a profit" (greed) that they took the only option to do so, which led us to today (incompetence).