Comments on: Bailout Madness – What It Means To You http://www.bloggernews.net/117864 High-quality English language analysis and editorial writing on the news. Thu, 16 Feb 2012 16:39:01 +0000 http://wordpress.org/?v=2.3.3 By: Gellen Peterson http://www.bloggernews.net/117864#comment-839227 Gellen Peterson Sun, 21 Dec 2008 18:44:05 +0000 http://www.bloggernews.net/117864#comment-839227 Banks made CRAZY loans simply to collect the hundreds of billions in percentage up-front-fees for originating the loans. These same people have not reformed their practices or changed their ways. All senior management of these intitutions should be forced to resign and give back a large portion of their personal fortunes as a condition of the bailout. Instead, we are paying for their continuing greed. Banks made CRAZY loans simply to collect the hundreds of billions in percentage up-front-fees for originating the loans. These same people have not reformed their practices or changed their ways. All senior management of these intitutions should be forced to resign and give back a large portion of their personal fortunes as a condition of the bailout. Instead, we are paying for their continuing greed.

]]> By: Warren Panton http://www.bloggernews.net/117864#comment-839186 Warren Panton Sun, 21 Dec 2008 18:21:29 +0000 http://www.bloggernews.net/117864#comment-839186 REMEMBER......THESE ARE THE SAME BANKS THAT PAID 100+ MILLION DOLLARS TO LOBBY CONGRESS IN 2002 TO MAKE IT VIRTUALLY IMPOSSIBLE FOR THE AVERAGE PERSON TO GET A CLEAN CHAPTER 7. WHEN THE REVOLUTION COMES LETS MAKE SURE IT'S THEIR "ROYAL" BLOOD IN THE STREET. REMEMBER……THESE ARE THE SAME BANKS THAT PAID 100+ MILLION DOLLARS TO LOBBY CONGRESS IN 2002 TO MAKE IT VIRTUALLY IMPOSSIBLE FOR THE AVERAGE PERSON TO GET A CLEAN CHAPTER 7. WHEN THE REVOLUTION COMES LETS MAKE SURE IT’S THEIR “ROYAL” BLOOD IN THE STREET.

]]> By: Tom Boston http://www.bloggernews.net/117864#comment-649609 Tom Boston Sun, 28 Sep 2008 14:51:32 +0000 http://www.bloggernews.net/117864#comment-649609 The U.S. banks have fleeced the little guy for at least 2 decades. The signs of greed and corruption started in the 80's. The S&L collapse, and not the sub-prime Mortgage collapse are the big picture. Here's the little picture of stealing from their customers. In no other business, has an industry pinched the poor and Main St. American than this. Three Examples: 1) Charging for use of ATM's. The banks save billions of dollars in staff expenses and office overhead. They would have had to hire a hundred thousands of tellers and opened thousands of offices to handle banking needs of the last 2 decades. Instead, for the cost of running their computers, and putting up machines, they are dispensing/collecting money in without hiring employees. For this, they CHARGE THE CUSTOMER, a transaction fee. It should have been made illegal the minute it was conceived. Some charge as much as three dollars. This is fleecing. 2) No or little interest on savings accounts. The banks are so greedy, they give nothing to the depositors for the "safety" of holding and investing the depositors' money. No one is motivated to save in a bank in America. 3) Bounced check charges. BofA is a good example of abuse of the customer: They charge a whopping THIRTYFIVE dollars/bounced check. They don't take the checks in order of submittal, but rather in order of size. That way the largest check bounced removes all funds, and the next, previously dated checks, have to bounce. In the customers mind, they might be bouncing one check. But after BofA rearranges the withdrawal times, the customer can accrue HUNDREDS of dollars because of an accounting mistake. 4) Deposit of funds. Banks hold checks that aren't on their own funds, out-of-state (in the same bank), and have time limit rules of 4pm. All of these are to freeze the customers' money while they are investing that money. There is no "freeze" on money from out of state, with electronic banking. a 2 or three day hold on a check is a game. Banks have been screwing the poor and middle class in America for years. Now they're going for the big screw. I say, let them put up collateral for the loans, in the name of the American taxpayer, and give the profit back to the taxpayer until they are paid up. Screw the banks as they have gouged us. Or let them collapse. The U.S. banks have fleeced the little guy for at least 2 decades. The signs of greed and corruption started in the 80’s. The S&L collapse, and not the sub-prime Mortgage collapse are the big picture. Here’s the little picture of stealing from their customers. In no other business, has an industry pinched the poor and Main St. American than this. Three Examples:
1) Charging for use of ATM’s. The banks save billions of dollars in staff expenses and office overhead. They would have had to hire a hundred thousands of tellers and opened thousands of offices to handle banking needs of the last 2 decades. Instead, for the cost of running their computers, and putting up machines, they are dispensing/collecting money in without hiring employees. For this, they CHARGE THE CUSTOMER, a transaction fee. It should have been made illegal the minute it was conceived. Some charge as much as three dollars. This is fleecing. 2) No or little interest on savings accounts. The banks are so greedy, they give nothing to the depositors for the “safety” of holding and investing the depositors’ money. No one is motivated to save in a bank in America. 3) Bounced check charges. BofA is a good example of abuse of the customer: They charge a whopping THIRTYFIVE dollars/bounced check. They don’t take the checks in order of submittal, but rather in order of size. That way the largest check bounced removes all funds, and the next, previously dated checks, have to bounce. In the customers mind, they might be bouncing one check. But after BofA rearranges the withdrawal times, the customer can accrue HUNDREDS of dollars because of an accounting mistake. 4) Deposit of funds. Banks hold checks that aren’t on their own funds, out-of-state (in the same bank), and have time limit rules of 4pm. All of these are to freeze the customers’ money while they are investing that money. There is no “freeze” on money from out of state, with electronic banking. a 2 or three day hold on a check is a game. Banks have been screwing the poor and middle class in America for years. Now they’re going for the big screw. I say, let them put up collateral for the loans, in the name of the American taxpayer, and give the profit back to the taxpayer until they are paid up. Screw the banks as they have gouged us. Or let them collapse.

]]> By: pablo http://www.bloggernews.net/117864#comment-642537 pablo Fri, 26 Sep 2008 04:39:49 +0000 http://www.bloggernews.net/117864#comment-642537 The same happened in mexico a few years ago. It was called Fobaproa. We, taxpayers, will be paying back for generations. The same happened in mexico a few years ago. It was called Fobaproa. We, taxpayers, will be paying back for generations.

]]> By: Rich http://www.bloggernews.net/117864#comment-635450 Rich Tue, 23 Sep 2008 04:39:51 +0000 http://www.bloggernews.net/117864#comment-635450 Screw the elite class. I want to work for cash. This article is right on point. Screw the elite class.

I want to work for cash.

This article is right on point.

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