Ever wonder about the millions, nay hundreds of millions, in Wall Street and megabank dollars spent on countless legions of lobbyists? For Wall Street and the megabanks, lobbying the financial reform bill is all about protecting billions of dollars in profits. It is about keeping their too-big-to-fail status and the market advantages and perks such status gives them. It is about preserving the privileged place in the financial services sector they have gained through legislation and regulations over the past 30 years.
But what about Main Street and ICBA? Main Street and ICBA are all about preserving our nation’s unique heritage of a diverse and multi-faceted community banking system. Unique because there is nothing else like it on earth. It is precious and must be preserved.
Our community banking system is responsible for creating the culture that built the greatest nation on earth. So while community banks and ICBA do not have hundreds of millions of dollars to spend on hired lobbyists and marketing “spin” machines, we do have the hearts of thousands of community bankers on Main Streets across America to tell our side of the story. And when you have heart, you have it all. And that is what it is all about on Main Street!