We are now a mere 5 closings away from doubling last years impressive numbers.

Glad the bail out is working.

It's working like a charm. Arn't you glad you supported the bail-out?

when is the new Chinese based international currency due out?

Keep them printing presses rockin' until the dollar is the new peso.

Alex Jones may not be crazy afterall on some of his more farfetched points of topic. He may be fucking Nostradomus II.

No amount of bailouts or stimumlus is gonna work until this nation gets back to creating good paying jobs inside this nation.

Unfortunately this goes against the flow of corporate america, so don't hold your breath.

BTW I just love speaking to people 1/2 around the world and have them so f-ing stupid they cannot help. I don't know if they do not understand the language or are just dumb. Probably a combination of both.

An example...

Me: How much is minimum account balance to avoid a service charge?
Rep: $200.
Me: Then why did you hit me with a $13 service charge?
Rep: Because the balance is $188.
Me: The balance of $188 is AFTER the service charge of $13. The balance before that was $201 which was above the minimum to avoid a service charge. So again why was there a $13 charge?
Rep: Because the balance is under $200.
Me: That is now. After the $13 service charge. How much was it before the charge?
Rep: That was last month, I cannot look at last month, I can only look at this month.
Me: Well let's do the math... How much is $188 plus $13?
Rep: $201.
Me: Correct. That was the balance before the $13 charge was taken out. Why was I charged the $13?
Rep: Because the balance is $188.

I could not make shit like that up if I tried.

"Bank Rescue Was Expanded' For GE"

"General Electric, the world's largest industrial company, has quietly become the biggest beneficiary of one of the government's key rescue programs for banks."

"At the same time, GE has avoided many of the restrictions facing other financial giants getting help from the government."

"The company did not initially qualify for the program, under which the government sought to unfreeze credit markets by guaranteeing debt sold by banking firms. But regulators soon loosened the eligibility requirements, in part because of behind-the-scenes appeals from GE."

Hope and change

SUCKERS

I remember reading last week that the goal is to reduce the number of banks because we have too many. I don't remember what the logic of that was. The more cynical among you will suggest that is, pure and simple, another indicator of Obama's socialist agenda. *sigh* But maybe there's a bigger plan that is not in opposition to capitalism (I've heard more than one person suggest that Obama's goal is to save capitalism). My town of less than 15000 has six banks. Why? Maybe losing a few is not any indicator of destroying capitalism or socializing the economy. Maybe the picture is something different from what the conservatives (reactionaries?) on this site fear?

I remember reading last week that the goal is to reduce the number of banks because we have too many. I don't remember what the logic of that was. The more cynical among you will suggest that is, pure and simple, another indicator of Obama's socialist agenda. *sigh* But maybe there's a bigger plan that is not in opposition to capitalism (I've heard more than one person suggest that Obama's goal is to save capitalism). My town of less than 15000 has six banks. Why? Maybe losing a few is not any indicator of destroying capitalism or socializing the economy. Maybe the picture is something different from what the conservatives (reactionaries?) on this site fear?

Consolidation of power, pure and simple. Using taxpayer money to redistribute these assets, pushing us deeper and deeper into this "too big to fail" nonsense.

My town of less than 15000 has six banks. Why?

#7 | Posted by pragmatist

My town of 6000 has nine banks, if you count the credit unions. It does seem a bit over-saturated.

Thanks, Iraqi, for representing "the cynical among us." : )

I think the too big to fail line has to be addressed, too. I think we need to make things smaller if too big to fail is a problem. Honest capitalism would have it that if a company is failing, they deserve to fail. They didn't survive. Let them fail. We used to be concerned about monopolies in this country, but maybe that was always lip service. : )

How many banks in one town is too many? Maybe I'm arguing against my earlier point and we should have as many banks as we want? : )

I really should get my mortgage and banking in the hands of a local bank--we moved since we bought the house (well, 'cause we bought the house) and now I have to drive 10 miles or pay a fee to withdraw money from a bank that is not mine.

Hell, maybe we should go back to in-kind and bartering as an economic model. Screw all this money shit. I got a kid I'll trade for dinner for a year.

I got a kid I'll trade for dinner for a year.

#10 | Posted by pragmatist

You're going to give someone dinner for a year to take your kid? That's still not enough.

LOL, Whatsleft.

Hey, he's five--old enough to do chores. And as long as you have an endless supply of cookies and Magic School Bus episodes, he doesn't need much. : )

Thanks, Iraqi, for representing "the cynical among us." : )

I think the too big to fail line has to be addressed, too. I think we need to make things smaller if too big to fail is a problem. Honest capitalism would have it that if a company is failing, they deserve to fail. They didn't survive. Let them fail. We used to be concerned about monopolies in this country, but maybe that was always lip service. : )

How many banks in one town is too many? Maybe I'm arguing against my earlier point and we should have as many banks as we want? : )

Too big to fail is nonsense. The only people who cry about too big to fail are those that are big and the Kool Aid drinkers who are obsessed with the slippery slope of "if we didn't didn't completely fuck the next two generations in this country, X would have become X+1...and that's a disaster!" Those are also the same people who want to blame the free market, yet refuse to let the free market work.

It isn't the government's job to determine how many is too many. If the market will support the banks they should exist. It really

there is no such thing as a free market.

there is no such thing as a free market.

I know. You need to tell the clowns around here that the next time they talk about the free market as the root of all our problems.

actually I generally point it out to those who say the free market is the solution to our problems.

Kind of like saying what Obama is doing is socialism.

When the federal govt plays in the markets the way it inavoidably does, printing money, spending money, setting interest rates, regulating banking ETC, it is nothing but socialism.

Socialism for the rich, but that goes with out saying.

"Hey, he's five--old enough to do chores. And as long as you have an endless supply of cookies and Magic School Bus episodes, he doesn't need much. : )"

I think five years old is the best age for a child and they depreciate rapidly after ten.

There is a free market but unfortunately it isn't really free when some countries allow labor rights, have ecological protections, etc. and other competitors don't need to bother with such niceties.

My town of less than 15000 has six banks. Why?

#7 | Posted by pragmatist

My town of 6000 has nine banks, if you count the credit unions. It does seem a bit over-saturated.

#9 | Posted by Whatsleft

Hey, I need more banks. In order to reach the maximum amount of FDIC insured deposits, you need to have multiple accounts.

Nothing wrong with having lots of banks. Need a lot more.

Actually, as I pointed out somehwere else, the free market idea depends on enlightened consumers who make rational decisions. Those things don't exist today, by and large. Advertising ruined that. And btw, I still believe that stewardship (resources, economy, people) should be part of good business.

From what I have read and understand of history, there really never has been a free market in the US. And philosophically, I think there needs to be regulation. Corporations/companies don't police themselves well of their own free will.

But these arguments have been had ad nauseam here, so what the hell's the point? : )

A free market is a purely theoretical term that economists use to describe a market which is free from government intervention (i.e. no regulation, no subsidization, no single monetary system and no governmental monopolies).

There is no such thing as a free market. There is nothing even close to a free market. It is a lie spread by those who wish to control your spending, income and lifestyle to their benefit.

Consider all of the ways a govt regulates the market-direct control, licenses, safety, advertising, etc

Consider all of the ways a govt subsidizes the market- Direct subsidies, taxes, tax breaks, etc.

Consider all of the ways the govt controls the money supply- printing, rate control, government spending, etc.

Consider all of the government monopolies-social security, defense spending, etc.

The government is involved in the market, control of the market is the goal. Recent events, well the past 30 years have shown the danger of control favoring the wealthiest in our society.

I did your last line, Truthhurts, but of course, those criticizing recent events continue to tell us that the changes hurt the economy and especially the lower/middle classes. Which I find interesting, given that not much help appears to have been given to those classes (my classes, thank you very much, and that of most of my students) during Republican reign. So maybe it's all bullshit.

Language matters. It is just another of those great lies that gets people voting against their own interests.

Free Market! Well I am all for that, its free for crying out loud! I dont want any of them thar beaurocrats impeding on my market, just getting in the way of me and my money spending raising prices and screwing up everything.

Just a lie.

the govt works to impact the market, it is impossible otherwise. What you should be concentrating on is what those impacts will do. Will they raise your standard of living or lower it.

OMG CAP AND TRADE!!!! It will tax you! ok, pay us more to offset the taxes, that is what the energy industry is going to do. of course the benefit is that perhaps we could still have a livable atmosphere 100 years from now.

OMG CAP AND TRADE!!!! It will tax you! ok, pay us more to offset the taxes, that is what the energy industry is going to do. of course the benefit is that perhaps we could still have a livable atmosphere 100 years from now.

#23 | Posted by truthhurts at 2009-06-29 01:31 PM

Why don't they just cap the damn emissions instead of setting up some sort of bull shit trading scheme? Raise standards for automobiles, factories, etc... Provide incentives for green investment.

Because they want the tax money, that's why

*crickets in TruthHurt's corner*

I'm sure there's a great "liberal" defense for this new trading ponzi scheme in lieu of just raising standards and regulations.

Not any sperm banks, I assume. Their deposits are safe, liquid and available on demand.
Perfect for that nestegg.

I live on the edge of metropolitan Ft. Lauderdale and I counted 10 different banks in one square block. That's too many for the population in this area.

Small banks are dangerous. Always operating on the fringe. I'm glad to see some of them disappear.

Small banks are dangerous.

I love the small banks. I know the tellers and even the president of the one I use. They know me. Very personalized service.

I like small business in general and try to patronize them whenever possible.

Years ago I banked at CitiBank in downtown Dallas. I made a deposit into my checking account one day and asked while I was at the counter what the balance on my savings account was. The teller told me it was a $2 charge for that information! I asked her WTF (in nicer words) and she said that the tellers were swamped with people coming in and asking their balance. I pointed out I was already there making a transaction. Didn't matter.

By then I was pissed. I asked to see the manager who also didn't budge. So I said, "Fine. I want to withdraw all my money so I can count it, then I'll re-deposit it. No charge for that, is there?" The manager said there wasn't but I would have to close the account if I withdrew all my money. I said that that was fine, too. ANd that is what I did. I never banked with a big bank again after that day.

I'm glad to see some of them [big banks] disappear.

That is an odd sentiment from someone whose party generally eschews big business.

Small banks are dangerous. Always operating on the fringe. I'm glad to see some of them disappear.

#28 | Posted by Twinpac at 2009-06-30 07:11 AM | Flag: Prefers "too big to fail"

An example...

Me: How much is minimum account balance to avoid a service charge?
Rep: $200.
Me: Then why did you hit me with a $13 service charge?...

I could not make shit like that up if I tried.

#4 | Posted by 726 at 2009-06-29 10:32 AM

Well, replacing the Service Center in New Delhi with one in Houston is no guarantee of quality, I'm sure.

I, living in Germany, have, unfortunately, to deal with my bank in NY from time to time. The last time was for something very simple - to renew my expired ATM card (why the American bank isn't capable of sending a replacelment card automatically is beyond me).

So, after 20 minutes of explaining everything to a bimbo, in NEW YORK, who finishes every sentence on a rising pitch, making everything sound like a question, she actually asked me, now, this is after 20 minutes of discussing my ATM card, she asks me, "So, now, let me ask this. Now, do you actually have ATM machines in Germany?"

Lord Love A Duck.

Oh, AND the bimbo insisted that they wanted to send the new card directly to me in Germany. Ok, even though I've given them the address roughly 542 times, I gave it to her again, made sure she got everything down correctly, had to listen as she tried to repeat the name of my town... and about ten days later, the card got delivered to my parents house, in the same town in NY where the *!/&%$ Bank is!

So... no, I don't think moving all the outsourced jobs back to the US is an automatic GO at this station.

Next suggestion?

When we finish this meal you little rodent, we're gonna go out in the yard and see who has the right to run this group of regulators.

GOATMAN

I liked my small bank, too. I had a long credit history with them and the manager of the bank lived a few doors down from me.

Personlized service was never the problem.

But I got nervous when the bank started changing hands. They went from Sterling Bank to Barnett Bank to Bank of America in a relatively short period of time. (I think I may have missed one other name which I can't remember at the moment.)

Even though my accounts were never in jeopardy, I feel more secure now that I'm dealing with a bank that I have access to as I travel up and down the east coast.

On the few times I've contacted their home office, I have never ever been forced to talk to someone in India.

Different strokes and all that.