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Living The Good Life At Our Expense

TruMark Financial Credit Union is running a couple of television ads in Philadelphia that take an unusually tough shot at the big banks.

Married to Morgan chronicles the pampered life of a well-to-do woman.

Scene from the TruMark Financial ad "Married to Morgan"

After listing all of the wonderful things “you” have done for her, from a fancy wedding to the beach home in St. Martin, the tag line says: “Too bad she’s not your wife. She’s your big bank CEO’s wife”

Raising Chase follows the same theme for “your big bank CEO’s son.”

The ads are clearly playing to the anger many Americans feel towards the banking industry.

The frustration that justice just hasn’t been done. That the guys who caused the financial crisis and recession largely escpaped the pain and suffering they inflicted on millions of Americans, and are still living it up.

Is that unfair? A punch below the big bank’s belt?

Given the arrogance they displayed throughout the crisis and ensuing bailout, I don’t think so.

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  1. Zippy said:
    on June 27th at 09:00 pm

    They’re right about the arrogance of big bank CEO’s. But, given that credit unions enjoy a permanent bailout via their tax-free status, it doesn’t follow than they’re necessarily a better choice if they’re making a moral argument; if you compare their rates and fees they’re often worse than the “big banks” they’re trying to vilify. So, why should I care what the “big bank CEO” does for his kid? These CU CEOs aren’t starving. All of these institutions are ripoffs to one degree or another, so the cheapest one for the particular loan or deposit product I need is the one to go with, regardless of where the profits might go.