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It's a serious hassle to shut down a bank account and transfer money to a new one, especially with direct deposit, automatic bill payments, and the like.
The same is true of refinancing at a different bank from the one that currently holds your mortgage, or trying to persuade a new bank to give you a business loan.
They know the bank they're trading with may be taking the other side of the trade (in the Abacus deal, for instance, the flipbook said that Goldman might be short the securities).
The result was that IKB, the German bank in this deal, bought $150 million of notes in this C.D.O.
It seems improbable that they will simply vanish (the way a bank like IndyMac did), because the government won't allow it.
It's nearly impossible for consumers to evaluate how healthy a bank is.
Even if people are dissatisfied with their bank, it's usually cheaper not to fight than to switch.
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Aimed at ultra-high net worth tourists from Asia and the Middle East, the cheapest rooms will be around 1,000 Swiss francs (£675) a night, while the most expensive will go for a bank-busting 25,000 Swiss francs (£16,000).
I understand that regulators in the US have told the Bank of England our mega banks are not wanted there; I suspect Asia feels the same way.
The first task is to reform the way the Bank of England deals with the banking system – the most conservative and hidebound relationship in any advanced industrialised country.
We are also backed by the British Business Bank, they have a fund called the Aspire fund, for women-led businesses.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com