tag:blogger.com,1999:blog-8575396221761490577.post375296177547664342..comments2023-10-14T11:47:37.778-04:00Comments on Bank Watch: Bank analyst calls dropped debit card fees a win for 'the Socialists'Unknownnoreply@blogger.comBlogger52125tag:blogger.com,1999:blog-8575396221761490577.post-37089743649243696322011-11-02T20:43:43.811-04:002011-11-02T20:43:43.811-04:00Dodd Frank is socialist but bailing out banks, all...Dodd Frank is socialist but bailing out banks, allowing banks grow in all sort of cancerous ways, allowing banks to destroy the old idea of usury limits, allowing banks to expand to the point of being able to bring down the nation's economy; all of this is just the marketplace at work?<br /> There are enough laws on the books, backed by big banks, enabling all sorts of conduct through redefinitions, to sink a tanker, yet one law that seeks to create balance in this atmosphere is socialist?<br /> We are a nation of fools. We allow the rich to get richer by destroying jobs here and moving them elsewhere, without constructing any tariff walls to protect the jobs here, all of which is a give away to the rich. We allow corporations to buy our government and act in ways that are as anti-market as anything in any socialist state. And then we turn around and call out socialist to anyone who loves this country enough to want to protect it from these pirates.<br /> Dodd Frank is a good law, what has been put into effect, for it establishes some balance in the marketplace, balance that too many feel that they are above.Aubrey Moorehttps://www.blogger.com/profile/03729435398376367124noreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-44763582130333861232011-11-02T20:11:38.703-04:002011-11-02T20:11:38.703-04:00A $5 fee imposed if you use your card once or 1,00...A $5 fee imposed if you use your card once or 1,000 times in a month sounds a bit socialist to me.<br /><br />Charging a few cents per transaction sounds like the Free Market.<br /><br />Why do banks prefer the $5 fee? Because they want to soak the people who are not paying attention!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-34149181503786942312011-11-02T19:55:32.081-04:002011-11-02T19:55:32.081-04:00Richard Bove may not be aware of any retailers giv...Richard Bove may not be aware of any retailers giving rebates or passing on savings to customers who use debit cards, but he hasn't been looking hard enough. Ikea is one such company - when you use your debit card, you get a coupon on your receipt good for 1 percent of your purchase that can be used toward a future purchase.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-1798169501988841382011-11-02T19:46:48.029-04:002011-11-02T19:46:48.029-04:00Interesting comment @7:33pm since 2 of the top 3 e...Interesting comment @7:33pm since 2 of the top 3 employers in Charlotte are banks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-89653783642343881472011-11-02T19:33:25.496-04:002011-11-02T19:33:25.496-04:00He said:
""It is giving a $12 billion w...He said:<br /><br />""It is giving a $12 billion windfall profit to the retailing industry at the expense of the banks," Bove writes."<br /><br />What exactly is wrong with this? I see no documentation. Retails hires. Banks fire.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-33970082079224694672011-11-02T18:58:20.467-04:002011-11-02T18:58:20.467-04:00Good lord, the comment about socialism has nothing...Good lord, the comment about socialism has nothing to do with the bank instituting or eliminating the debit card fee. In fact it has nothing to do with the bank or consumers at all. If you can't comprehend that then you should probably stick to reading something on your level, like the comics.<br /><br />Read for comprehension people.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-80610819427692845822011-11-02T18:37:10.651-04:002011-11-02T18:37:10.651-04:00Do you want my undergrad finance degree from UVa, ...Do you want my undergrad finance degree from UVa, or my MBA from Kellogg? I know those might not be as impressive as your undergraduate degree in economics from UNCC, but not of us are as smart as you.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-38154973285843353182011-11-02T18:15:52.693-04:002011-11-02T18:15:52.693-04:00This is the height of absurdity. When the marketp...This is the height of absurdity. When the marketplace works against you, then socialism is at work? This action happened totally within the marketplace. To suggest otherwise is to show that you are nothing but a cry baby, unfit for your place there. <br /> I have run a small business for 33 years, lost customers for reasons that I thought were unfair, but knew that when I opened my doors, fairness had nothing to do with it. <br /> Whomever this person is who claims that the socialists won, he should be horse whipped and turned out to pasture. It is the most absurd thing I have heard and the man is not fit to call himself a participant in the marketplace.Aubrey Moorehttps://www.blogger.com/profile/03729435398376367124noreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-84101142280547247982011-11-02T18:14:32.648-04:002011-11-02T18:14:32.648-04:005:30, he is not the President, he is the Kenyan Kl...5:30, he is not the President, he is the Kenyan Klown and I pay way more in property taxes that you will ever do in your entire pathetic plantation voting life on this planet. <br /><br />Google the Democrat John Corzine and the scam he has going on and his involvment in Goldman Sachs, and troll Bill Clinton was the President who could have vetoed that, but he was too busy molesting interns.<br /><br />Sincerely - Your hero Barney Frank.Skippyhttps://www.blogger.com/profile/04688165669248150791noreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-46978802758317833162011-11-02T17:46:21.908-04:002011-11-02T17:46:21.908-04:00Was it the free market operating as intended? Not ...Was it the free market operating as intended? Not so sure. The threat of mass deposit exodus to credit unions was perhaps the largest driver of this backstroke. However, credit unions are not part of a free and unregulated market - they're actually govt created special constructs that exist & thrive because they are given the competitive advantage of tax exempt status. <br /><br />If it were not for them, the consumer choice would be too limited by the current market dominance of the largest financial institutions, and in short, we (the masses) would get stuck with subsidizing this revenue stream for the banks, as Dick Bove apparently wants. <br /><br />The lesson learned here is that competition IS good, but sometimes, it actually has to be protected. Our so called free market is so out of whack and fundamentally unbalanced that we're at a point where we have to protect/artifically create competition so that the consumer still has choice, which, by the way, is the mechanism by which the so called free market works. <br /><br />BTW, Dick Bove, I do agree that reform was actually a "grab" by the retail establishment - but you're whining that the banks had to take it, rather than the middle class. Somehow, I don't have a problem with it. Nope. Just chedked it again. Not one damn bit.Nineradvocatenoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-83530531452428367512011-11-02T17:35:23.138-04:002011-11-02T17:35:23.138-04:00A smarter choice is out there!
http://www.asmarte...A smarter choice is out there!<br /><br />http://www.asmarterchoice.org/<br /><br />https://cmcu.org/index.asp<br /><br />I moved. Got tired of funding the Wall Street boys who do harm to our communities and families by their pyramid schemes. Housing market.. I give you.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-80687305351968460252011-11-02T17:34:43.900-04:002011-11-02T17:34:43.900-04:00kingward, I only bank at a credit union but fully ...kingward, I only bank at a credit union but fully support BOA in this. I expect the credit union will be even harder hit by this unfair government intervention and they fought against the swipe fee rules along with the banks. The only socialist institution in play is the Obama administration and corrupt democrats in congress.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-67943982325494595292011-11-02T17:30:47.063-04:002011-11-02T17:30:47.063-04:00Skippy, Skippy, Skippy, there you go hating on the...Skippy, Skippy, Skippy, there you go hating on the President of the United States of America again. Does your Mommy know that you are on her computer again? Is everyone there in Cornelius so uninformed?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-65750486719749694932011-11-02T17:26:32.306-04:002011-11-02T17:26:32.306-04:00Free market... go Credit Union. Simple. You don&#...Free market... go Credit Union. Simple. You don't like it - WALK Away. The market will eventually whip the banking snobs into shape.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-71818390974385511432011-11-02T17:19:28.918-04:002011-11-02T17:19:28.918-04:00So I suppose this man would say that credit unions...So I suppose this man would say that credit unions are essentially socialist institutions? What a crock!.Kingwardhttps://www.blogger.com/profile/04708099677634494953noreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-90518686826200224002011-11-02T17:15:37.655-04:002011-11-02T17:15:37.655-04:00I don;t see this as socialist either, it shows we ...I don;t see this as socialist either, it shows we are a free country and the citizens have a voice, the majority voice was heard and the bank reacted. Charging $5.00 and losing customers in droves and going under or keep customers happy and make money, maybe a few billion less, but think about the billions you do make already. The Republican party want's a communist style government so bad it hurts, just so they can ram stuff like this down our throatAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-65303118081421926532011-11-02T17:10:28.753-04:002011-11-02T17:10:28.753-04:00What a turd. Big bank and upper income people don...What a turd. Big bank and upper income people don't get it. They need to be made poor in order to get another view of our country. Jerks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-61997072589057111842011-11-02T17:06:38.117-04:002011-11-02T17:06:38.117-04:00Really J...Oh, I guess there is ONLY one John Smit...Really J...Oh, I guess there is ONLY one John Smith in the World, too!<br /><br />No, Bozo...I just told you more information than you can get on an "Official Website." Yeah, there they tell you what they want you to know. I just told you what is really going on. I could give a flying fig if you believe it or not. Yet, you're not coming to MY house like King Charles III and shaking me down for money when it ONLY benefits YOU!<br /><br />Apparently, you go to church and believe everything they tell you there, too. What a sheep. Hopefully you got good money when you donated your brain.Rick Thameshttps://www.blogger.com/profile/16591891560434691597noreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-91541542569340300562011-11-02T17:02:25.815-04:002011-11-02T17:02:25.815-04:00ok so why don't we all go back to using cash.....ok so why don't we all go back to using cash.....thoughts, comments....because basically that debit card is the same as cash...hmmmm....but alas the banks will still charge us to hold what little money we have.....<br /><br />And now that I think about it...why don't we all go back to cash? I mean no one loses and we all live within our means....throw away the dag on debit cards...since its costing the banks so much that they have to charge us to use it....last i heard retailers love cash....makes me wonder now why we (consumers) were so ready to accept use of a debit card anyway?Witness2Confusionhttps://www.blogger.com/profile/01375045643825512086noreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-40039365592986200212011-11-02T17:01:10.340-04:002011-11-02T17:01:10.340-04:00"they pass SOCIALIST legislation like Frank-D..."they pass SOCIALIST legislation like Frank-Dodd"<br /><br />The Frank-Dodd Act is a weak act. What the Country needs is to put the Glass-Steagall Act of 1933 in place.<br /><br />Socialists? Please, what a freaking dope! These Banks and financial institutions have been able to get away with murder for the past 12 years. Do you want to take a good look at our economy NOW? Of course, you're not bright enough to put 2+2 together. <br /><br />Yeah, it's all about the Government. Yeah, the Republicans forced Clinton to repeal the Glass-Steagall Act in 1999, and this is the chaos we are left with. <br /><br />Spare you? Please, tell me where your Finance degree is from, because the only thing it sounds like to me is that you're just another freaking "ME Generation" bag of wind! That generation's philosophy is ENTIRELY screwed up and I can't wait for them to die of cancer!Rick Thameshttps://www.blogger.com/profile/16591891560434691597noreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-87564668548242397822011-11-02T17:01:04.472-04:002011-11-02T17:01:04.472-04:00I hope that "Rick Thames" post came from...I hope that "Rick Thames" post came from a hacker. Though I rarely agree with Thames, I know he's much more intelligent than that post. I'm not going to waste time responding to the Duke Energy rant. Assuming the hacker knows how to read, he can go to the NC Utility Commission's website and view all the documents needed to reach a much more intelligent conclusion. <br /><br />But I did want to say one more thing about the bank fees. I'm a B of A customer. When I saw the notice of the new fee, I didn't stop and scream like everyone else. I actually read the entire notice, and came up with a plan on how to avoid it. Take a lithium, people. Next time a company you do business with announces a new fee, read the entire notice, take note of the ways to avoid the new fee (there are always ways, especially with bank accounts) and plan accordingly. If you can avoid it, avoid it and move on. If you decide you can't avoid the fee and are opposed to it, take your business elsewhere. It really doesn't require all this screaming about hellfire and bloody damnation.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-28338581870461408792011-11-02T16:55:34.086-04:002011-11-02T16:55:34.086-04:00Come on man, it is a bit of a stretch to say you w...Come on man, it is a bit of a stretch to say you worked for BAC, when all you did was clean the offices after everyone went home for the night.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-16195010181925801382011-11-02T16:51:50.756-04:002011-11-02T16:51:50.756-04:00I would love to kick that analyst as$$ what a low ...I would love to kick that analyst as$$ what a low life moron!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-14387626569406755702011-11-02T16:49:38.430-04:002011-11-02T16:49:38.430-04:00I have to hand it to liberal politicians. They hav...I have to hand it to liberal politicians. They have done such a masterful job at stoking wealth- and class-envy that the public gives them a free pass when they pass SOCIALIST legislation like Frank-Dodd, they can stand in front of the cameras and bloviate about evil companies that charge fees that they don't agree with, and actually have the cajones to say, "You have to agree that at some point, you have made enough money" (that's a direct quote from the President). <br /><br />What is Socialism? It is an economic/political system where the government makes the decisions on which individuals and companies will be successful by creating policies that will benefit them, and which ones will not by assigning punitive taxes to them. <br /><br />The current liberals have decided that all financial companies and energy companies that produce energy through fossil fuels should not flourish, and are in the process of putting them at severe disadvantage with legislation like Frank-Dodd, ObamaCare and the insipid cap and trade (which really should have been called cap and tax)legislation. <br /><br />Not only is all of this Socialism morally wrong, it is hypocritical. There is no more egregious Ponzi scheme in history worse than Social Security. Every year that the SSA has taken in more money than it gave out, they fed the public this lie about a "Social Security Trust Fund" that never existed, as the excess SSA tax revenue was spent on other government programs. As a result, everyone that is receiving SSA/SSI right now is getting it through the FICA taxes being paid by current taxpayers, and there's not a man or woman alive under age 50 who will ever see a single penny of the money they paid into the system. And the government gets all high and mighty about "greedy Wall Street" and "big oil" and going ape over companies that own their own airplanes. Spare me.<br /><br />I can only hope and pray that all over America, people are actually realizing this and will go to the polls and vote for the candidates who will repeal all of this nonsense, and not vote for candidates based on if they are cool or are the race they prefer or who MTV tells them to vote for.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-28813071730107668952011-11-02T16:48:41.636-04:002011-11-02T16:48:41.636-04:00To Skippy...
Hey Skippy, are you the dude from Fa...To Skippy...<br /><br />Hey Skippy, are you the dude from Family Ties? Well, you've got to be as big of an idiot as the role he played.<br /><br />Duke Energy has their hands in numerous Erector Sets. Yes Skippy, that's right; Duke Energy is planning on a whole lot of construction projects that don't concern YOU (my sis works for them, so I have intel). See Skippy, there's not enough money in Duke Energy's piggy bank (or they just don't want to touch their own money), so they want the consumers to pay for all of their projects, ideas, and toys. WOW, it must be nice to not worry about a budget and just go to every house and force them to give you money. Therefore, they want the State to legally approve a door-to-door heist.<br /><br />Hey Skippy, How would you like to work for Duke Energy and play King George III? It's the same freaking principle! Oh, and great timing, too while this Country is headlong into our second Great Depression in the past 80 years.<br /><br />Yeah Skippy, let's talk about that Duke Energy merger, as well. The one where Duke Energy doesn't have enough money, so they are going to to A) Raise rates, B) lay off more employees, and C) Force early retirement on other employees during this economic crisis.<br /><br />Oh, and Skippy, I would be remiss if I didn't tell you that I used to work for B of A...and you're logic regarding the $5 issue has no merit at all. It's all about the principle, the timing, the PR, keeping the Deposit Accounts and Deepening the Relationship with the Consumer (B of A terminology).<br /><br />Now, Skippy Handleman...run along before I decide to give you a wedgie!Rick Thameshttps://www.blogger.com/profile/16591891560434691597noreply@blogger.com