Last Sunday I was awash with a bit of irony as I watched 60 minutes. As you know, the Fed Chairman held a rare interview with the press. Mr. Bernake said the Fed is aiming to be more transparent and this interview was a way of showing the public they’re serious.

But what sparked me to write this post today was not the interview with Mr. Bernake. It was the following segment on Alice Waters. Alice is a celebrity of sorts in the food industry. She is a pioneer of the “California Cuisine” which promotes locally grown food and organic ingredients. In this segment they highlight her goal to install local produce gardens and cooking classes into our schooling system. She’s even pushing for the White House to build the first ever vegetable garden on the lawn. The irony behind these two segments being back to back is the striking similarities between the financial literacy crisis we face today and the food movement struggle that we’ve been faced with for ages.

Watch the beginning of this segment:

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Cooking is a passion of mine and I’ve read numerous books about the industry and history of the American culinary world. One recent book I read by an Italian-American immigrant in the 1940’s, The Unprejudiced Palate, got me thinking about the similarities between the struggle of the food movement and the struggles we face today with financial literacy.

It’s debatable as to the root of the problem for why more Americans don’t cook their own food. You can blame McDonalds all you want but to understand the reasons for why McDonald’s had room to be so successful, we have to first look at why so many Americans have abandoned the kitchen for fast food fare.

In this book, Angelo Pellegrini discusses what he believes to be the root of the problem. During the early to late 20th century, American housewives became infatuated with the French culinary world. They studied the fancy cook books written by top French chefs, however, they found the recipes described intricate and esoteric making anyone other then professionally trained cooks feel incapable of making a decent meal for friends and family. It didn’t help when some of these top chefs agreed that few could really cook good food. To them, they were creating works of art.

Then came along the food giants like General Mills and Kraft. They sold a story to the average American that you can have a decent meal cooked within 30 minutes by just breaking the seal on their cans and plopping the ingredients in a pot to heat. The feeling of simple gratification was an easy story to sell to the public at this time.

Angelo fights back saying cooking is not “art”. It’s a way of life. Something everyone should do and that everyone can do. He cries out to his fellow Americans to recognize the opportunities that lay within the American soil. He explains how simple it can be to create a meal for a family of five or more.

The financial literacy problem in America today is similar. Over the years financial materials have been weighed down with jargon that most Americans can’t comprehend. What was once one page of disclosures is now five or six (multiply that number if it’s related to a mortgage or commercial loan). In some cases you need a lawyer just to understand what it is you’re reading.

The complications in deciphering basic financial concepts created a public who relied solely on the experts to make the decisions for them. Mortgage brokers explained to us how easy it is to be a homeowner, just hold out your hand and we’ll give you the money. A simple, and easy story to sell. Just like the story the food giants were and still are selling the public today.

We’re not saying that everyone should know how to do their own taxes. But knowing the differences in products available and what the risks and rewards are for using them to build a financial future is achievable for any individual or family. Efforts are being taken today to help future generations take control of their financial lives. State groups like the Oregon Credit Union Foundation and Oregon Department of Consumer & Business Services have held summits and seminars to discuss the importance of providing education to both clients and the community at large. The ABA also has a program in place to help banks deploy a financial education program for local high schools. I’ve mentioned the Wells Fargo site, HandsOnBanking.com. This site is free and available to teachers to use in their classes. And most recently, Salem Five here in New England launched their site, Gold Star Saver, which is targeted towards individuals under the age of eighteen.

But what about using education as the launching pad for a banks entire marketing communications? Brochures and pamphlets describing proprietary products are important but only after you’ve developed a trusted relationship. It’s a lot harder to develop this relationship if a majority of your communications are geared towards selling your products. Now more then ever consumers are looking for answers. With the damaged banking industry, banks have an opportunity to move aggressively on this financial literacy movement to not only rebuild their image but to grow their customer relationships at the same time.

Unfortunately Angelo’s cries went unheard and today we have one of the most unhealthy populations in the world. But Angelo was just one man. What was needed at the time was the culinary elite to join in his movement but, according to books like The United Sates of Arugula, many were in bed with large food companies. If banks can come together to rebuild their image as the place to go to get answers to the consumer’s financial questions, perhaps we have a chance to turn the tides on the financial literacy problem we face today.