Review of OCC report on Debanking by America's big banks

And the one thing that I cannot stress enough in this report before we dive into it is the fact that these banks that are highlighted in here, these nine of the biggest U.S. banks, they got caught.

They got caught flat out.

They got caught with their hand in the cookie jar here.

This is a very, very bad look.

Uh, they will be able to hide behind the rules around reputational risk.

They just, they will.

Uh, that's just, that's just, it's just what they're going to do.

It's what's going to happen.

Um, does that make this right? Does that make it okay that they did what they did? No, absolutely not under any circumstances, you know, and, and what's interesting about this is how, um, we have all these protected classes.

You cannot discriminate against people due to their sex, their religion, their marital status.

We have all these different bases, if you will, all these protected classes and everything.

But yet for some reason, That, you know, discriminating on somebody based on the fact that they were conservative or because they were Christian, even though you can't you know, you can't be biased against somebody because of their religious beliefs.

But yet, if they were a Christian, that seemed to be OK here, which is, you know, and again, some of these things, they they greatly trouble me.

Um, and I think the big question that we're left to left with at the end, and you'll see when we get to the end and we kind of go through their, their type of conclusion about what are they going to do to try to address this? Um, I do think it falls a little flat at the end of the day, because I think that the problem is that this is a very difficult thing to address.

I mean, other than blatantly just saying like, yeah, you can't discriminate against somebody for political beliefs or because this person's a Democrat or this person's a Republican.

Um, Yeah, you could be that, you know, literal with it.

But I think, again, I think part of it is, you know, we're supposed to have this high trust, moral, ethical society.

And and on another topic, I've I've had I've had an issue with with ethics for a long time because I believe.

that unless you have a religious belief system that provides you with the right moral base, the right moral compass, ethics are built upon morals.

And if you don't have a religious base, if you don't have that moral foundation, then you just build ethics, quote unquote, on a house of sand.

And when you really need the ethics to do their function, to hold up, they completely fall apart and people do highly unethical things.

But that's another conversation.

I don't, I don't mean to just, you know, I don't want to get off on some long tangent about that, but the, but the question there becomes at the end is like, you know how do we make sure that this does not happen again and i don't know that i have a great answer for that you know i'd like and i'd like to just sit there and say that oh yeah well we can just trust right we can just trust people that hey these are these are uh you know there are rules and regulations and laws against this kind of stuff you shouldn't do it but yet it happened it happened under joe biden and under the biden administration it happened so but anyway uh but i digress let's go ahead so Some of the highlighted examples here.