Finding ways around it
By tonniek02
@tonniek02 (457)
United States
November 20, 2008 9:12pm CST
What do you think about the companies that are finding ways to turn themselves in to banks, in order to get there hands on the bail out money..(Our Taxes) Don't they think the have put the enough screws to the public yet...We pay high food cost, We pay way more for a car then it is really worth, we can't get a loan when we are down and out, H@ll, some of us are loosing job and the once that have jobs, work there bu#t for off for min. wage, just to pay for all the lavish living of these same people that are taking us for fools again. And the once that have had it so good for so many years screwing the public now get to do it again and the government is going to let them..Maybe we need to start some potition to keep some of these company's from making fools out of all the tax payers. When's it going to stop.
1 person likes this
4 responses
@evanslf (484)
•
21 Nov 08
Though I have reluctantly come to the conclusion that the banks have to be bailed out because if they collapse, there would be very serious knock-on effects (see what happened in the 1930s when the banks went to the wall), I do agree with you that these companies who are pretending to be banks (like American Express) to try and get a bail-out should be refused. American Express is a credit card company, not a bank, and so I don't see at all why they should get a bailout. Period.
1 person likes this
@tonniek02 (457)
• United States
21 Nov 08
Your right, but what I am getting at. Is there are many ways these banks can cut back and repair thereselves without these bail outs.
1-No Bonuses for those CEO
2-Quiet building more banks that they don't need...
3-In my area I think we have more banks then people...US Bank has 2 branches
Commerce has 3 branches, Not counting Farmers, citizen, bank of bolivar and there are a few more. So you see the fat... They need to start trimming it. And not rely on the tax payers to fix the problem they created.
They keep driving up there fees....And using there rules to benefit there needs or (wants). For example: A friend of mine lost over 250.00 from her account, because her husband deposited his pay check at 6pm one evening after work. and they held his check for 3 days before crediting to there account. They got hit with over $250.00 in USF fee. Even though his check was in there. They told him if he had deposited cash it would have been credited to there account right away. And his company is Union, and Bonded. So how is that right. I could see it, if it was a two party check. But this was his paycheck. So the way I see it, is the banks are scr#wing the public. I'm afraid if my bank did that to me... I would close my account and started dealing with money orders and cash..
@grammasnook (1871)
• United States
22 Nov 08
Heck lets make a mylot bank and ask for some bailout money lol this is such a damn joke. If you werent considered a bank in the begining of the year then you do not qualify. They have to put some leashes and tighten things up.
@tonniek02 (457)
• United States
22 Nov 08
I like your idea....Let see..Bank of Mylot. Can we appoint you as President? Oh ya, Lets not forget, I want to be a CEO..So don't forget my bonus when you collect that bail out. Oh and one more thing... As CEO my kid needs to go to Harverd. So just right that off as a lose to our share holders...after all if we can just apply it as fees on there accounts they'll never be the wiser...LOL
@irishidid (8687)
• United States
22 Nov 08
My house is registered as a school. Now if I can just figure out how to make it a bank, I'm gonna get me some bail out moolah!!
Seriously, I think it is a bunch of nonsense that they are being allowed to do this. We're suppose to be responsible while they get a free ride.
Seriously, I think it is a bunch of nonsense that they are being allowed to do this. We're suppose to be responsible while they get a free ride. @newtondak (3946)
• United States
21 Nov 08
This problem is occurring because the definition of a "financial institution" in the Bailout Legislation is very broad - Paulsen himself said this when one of the legislators questioned how plumbers renovating foreclosed properties would qualify as a financial institution for some of the bailout money.





