I had a bank a few years ago that tried to pass some fees on me. I called around and found a bank that charged no fees. When I went in to close the account they asked why, I told them. They responded with "anyone who complains gets it for free". I know a lot of people who wouldn't complain, sweet, kind people who I instantly thought of. Don't think the teller had a clue how rotten they were really being for 8 bucks a month.
They took and now they are taken. The people still lose, but they feel better knowing someone did something to "that sob that took advantage of them" even if it means loosing their freedom.
The banks can do little when the government opens up it's own banks, just like their own hospitals and their own car dealerships with their own gas stations all funded by companies and people who had the opportunity to invest in America, but choose to take advantage of it like that bank I mentioned.
The fees will apply to 20 huge Wall St. banks that are highly leveraged. All of these banks got TARP money. The fees will taper off as TARP is paid back.
Quote:
Jan. 13 (Bloomberg) -- President Barack Obama will announce his intention to impose a fee on more than 20 of the country’s largest banks and financial institutions to help recoup taxpayer bailout money and trim the federal budget deficit, an administration official said.
The fees, expected to be spread over as many as 10 years, will be based on the leverage or amount of liability each firm has, the official said, who spoke on the condition of anonymity.
Obama will formally outline his proposal to raise as much as $120 billion at an event at the White House, according to the official who spoke on the condition of anonymity.
The move may have a bigger political than fiscal impact. By including it in the budget message that he will send to Congress next month, the president is tapping into public anger over the bailouts of the financial and auto industries, executive bonuses as well as the deficit.
“The politics on this is really quite easy,” said Doug Elliott, a fellow at the Brookings Institution in Washington and a former managing director at JPMorgan Chase & Co. “The public would be supportive of anything up to shooting and burning the bankers.”
My wife is Vice President of a Texas chain of banks, they spend several hours yesterday discussing this vary issue. This administration is not going to be contend until they are controlling every facet of our lives.
True, but does a bank every pay a due? Nope, just pass the cost on.
Apparently many this year were unable to pass on enough of the cost of doing business to stay around. The fee's will not be put to all the banks just some as I've heard it. Good time for the ones who aren't getting hit to make friends and increase their customer base. Too bad the ones that are are too stupid to see that they should've done that years ago. Will they learn, rats aren't that smart.
Ya can't blame rat poison for killing the rats. That's what government is, rat poison and it's the only option this people see to kill the rats. They don't mind untill it's too late that the poison was put on the food they eat.
Location: land of the Lilliputians, In the state of insanity
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Quote:
Originally Posted by nodog
Apparently many this year were unable to pass on enough of the cost of doing business to stay around. The fee's will not be put to all the banks just some as I've heard it. Good time for the ones who aren't getting hit to make friends and increase their customer base. Too bad the ones that are are too stupid to see that they should've done that years ago. Will they learn, rats aren't that smart.
Ya can't blame rat poison for killing the rats. That's what government is, rat poison and it's the only option this people see to kill the rats. They don't mind untill it's too late that the poison was put on the food they eat.
Very true, but do you think the government will stop with just the bailed out banks ? That is my concern. My local bank will probably see no effect, but that doesnt negate the fact many others are going to get screwed.
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kaafir mushrik
Unintended consequences and God have one thing in common: Liberals don’t believe in either of them.
Wow! That's interesting! To bad she's not on here.
I'm sure she could shed some light on the subject, but when she get home she doesn't talk much about banking. The only reason I know I asked her something about this when I read the post this morning.
Strap it on, new bank fees about to be passed down on you.
