Being Good District Stewards
By Charles K. Trainor
In 1989, I entertained some overseas trading colleagues. I took them to an off-Broadway play called Other People’s Money. I anticipated the play would be a hit with our group because we used other people’s money as money market traders. Using our bank’s AAA credit rating to borrow at low rates, we funded U.S. farmers and agricultural corporations at very competitive prices. When farmers reduce their borrowing costs, they can produce more affordable consumer food products. The play seemed like a great idea.
Although billed as a comedy, the play is very dark. The banking character, Larry the Liquidator, is a money-grubbing parasite who destroys companies with no regard for employees or owners. Larry seeks opportunities to squeeze maximum value out of targeted companies to generate profits for his investors. Although entertaining, the play really didn’t hold any parallels for our work.
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