Good morning. It is Friday, January 17th. It's five minutes after 10 with Kendall and Casey.

On 93 WIBC, the confirmation hearings continue. Donald Trump has nominated billionaire Scott Bessent as the next secretary of the Department of Treasury.

It's never like, he always noticed it's like billionaire or hedge fund manager.

It's never like Donald Trump has nominated a local banker, Fred Smith.

It's always these Uber rich, highly connected people.

And then we wonder why all the monetary policies benefit the tippy tops.

It's never regular. it's never regular people.

No, I'm surprised it wasn't Jamie Diamond to tell you the truth because it looked like it might have been him for a while.

Well, look, and we have seen this over time, certainly in the wake of post-2008 financial collapse, you have seen more and more of

these local banks gobbled up. And there's a good chance in your central Indiana community,

you may have one local bank left. And everything else are these national chains and these national chains. I mentioned earlier

that I was having a conversation with someone I know who works in the banking industry yesterday.

And we were talking about the interest rates and how a lot of these banks are doing very short-term,

like CD-type things because they just simply, they're projecting that interest rates are going

to go down, which means

inflation will not get solved, and it'll be good if you're in a certain sector or desire

to be in a certain sector of the economy and everybody else will eat crap and pay $10 still

for eggs.

But one of the things that we were talking about is how these large financial institutions,

because they have gobbled up essentially most of the competition, your only option now,

you don't really move to customers like one-on-one service anymore.

You're only option in your communities to move from one large financial institution to the other.

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