“The banks use bank trustees as “fall guys” and “flak jackets” and “insulation”. They appoint bank trustees to run interference and take the heat, while keeping the bank at arm’s length from transactions and decisions made about trust assets kept on deposit with the banks. Via their relationship (that of an employer) with the Bank Trustees, the bank keeps de facto control of everything, while shuffling off the liability.
The bank President can stand there with a straight face and say, “Uh, harrrumph, ah, I didn’t know anything about Mr. Greene’s dealings with the XRYT Trust. That was, uh, his responsibility.” AnnaVonReitz.Com – cont’d Fall Guys