Many moons ago, banks made a profit by investing their customer's money and reaping the dividends, even going as far as to share those dividends with their customers as a thank-you for trusting the bank with their money. These payments were called interest, because much like you borrow money to buy homes for sale in Brampton, they were borrowing your money to invest. These days, however, banks have set their sights on clients as a direct source of income and are milking them though banking fees.

With a banking fee, the bank is charging you money for the privilege of loaning them your money. If you want to move that money around, you incur further fees. Virtually everything you do at a bank or with your money means more fees. Therefore even though your covered call ETFs are supposed to be making YOU money, your bank is doing everything it can to redirect as much of the profits as possible into their own coffers. As such major banks are now among the biggest moneymaking companies in the world.

How did this happen, you may ask? Well, in the old days banks were small community affairs. The owner and employees of the bank were locals who knew their clients personally and had a vested interest in keeping them happy. Happy customers meant more business and more business meant they were able to design their own Victorian house plans and support their communities. But over the last several decades these small banks have been absorbed by bigger ones until instead of hundreds or thousands of small banks across the country, there were only a handful of huge ones that were so large they had no real connection to the customer.