And any and everyone else in the Charlotte power structure operating under the delusion that the financial services sector is undergoing some sort of recovery.

What if the worst is still ahead?

What if deflation and the continued non-performance of bank portfolios puts a cost vice on banks? What does that portend for local jobs? If banks cannot generate interest income or non-interest income, how do they keep paying bankers — even Uptown bankers?

Do you understand that you can throw all the public money and ad budget you want at Michael Smith and Center City Partners and you still will not manufacture a subsidized CEO to replace the ones Uptown lost? That HQ jobs for BAC will be among the most vulnerable in a protracted bank revenue squeeze?

Most of all — do you understand you must shrink the power footprint of local government to have any hope of surviving the next crisis as a viable locale?