From all of us at Howard Bank we wish you and yours a very Happy Thanksgiving.
It’s that time of year once again—the time when we offer our thanks for our blessings. In preparation for doing so, it’s important to remember that some have more thanks to offer than others, and to remember those when celebrating our own good fortune.
The subject of economic inequality is one frequently mentioned these days by government leaders and social scientists, not to mention Federal Reserve chairmen and countless economists. Despite the bank bashing that still occurs, eight years after the crisis, those of us who are community bankers spend much of our time, professionally and personally, trying to correct some of those inequalities through our age-old role as facilitators and intermediaries. We provide funding to those who are not liquid, but are seeking advantage, by responsibly investing the proceeds from those who are more liquid, if not more advantaged, into our own community. However we also spend a great deal of time trying to understand the larger picture—the reality of, the magnitude of and the root causes of inequality. (more…)