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2010-06-19 Economy

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Posted by Fred 2010-06-19 00:00|| || Front Page|| [1 views ] Top

#1 Last time i looked banks were PROFITING Billions from these "Fees" that makes the article a damn lie the banks wil NOT need other "Fees" to break even, but they will to continue to pay their executives Multi Million dollar salaries.
That can stop easily, the Banks are feeding Greed, NOT Need.

Posted by Redneck Jim 2010-06-19 00:24|| 2010-06-19 00:24|| Front Page Top

#2 Back before ATMs, banks had human tellers who did the transactions for about 6 hours a day, four days a week, and then a split, 3 early + 3 late, on Friday. Then this ATM thingy showed up and the banks started to install them as a "cost savings" measure that off set the expense of paying a human a salary and overhead (health, unemployment, social security, etc). Some how a couple years later that "cost savings" got padded with use charges.

Now that the competition has been cut down and the behemoths that have been granted the graces of their rotating employees in the Fed/Tres, they now feel confident enough to float their profits on more 'charges'. Meanwhile the Fed is loaning the biggies at around zero interest while they buy Treasury bonds at a couple percentages above that.

Posted by Procopius2k 2010-06-19 08:41|| 2010-06-19 08:41|| Front Page Top

#3 No problem. Credit unions are happy to take your deposits and not charge a service fee.

Posted by ed 2010-06-19 08:49|| 2010-06-19 08:49|| Front Page Top

#4 It's a sign that over-regulation is preventing bank competition and new entrants.

Posted by Bright Pebbles 2010-06-19 11:58|| 2010-06-19 11:58|| Front Page Top

#5 The Feds should re-instate the old US Postal Savings System, which ended in 1967. It used to pay 2% on deposits. They would certainly get my business. The big banks would really squeal like the pigs they are if that happened.

Posted by Anguper Hupomosing9418 2010-06-19 12:04|| 2010-06-19 12:04|| Front Page Top

#6 $300 to maintain a checking account? Yeah, right.

Posted by KBK 2010-06-19 12:34|| 2010-06-19 12:34|| Front Page Top

#7 Opinion from WaPo financial columnist Steven Pearlstein: If bankers want to lead the exciting hedge-fund life, earning hedge-fund-like profits and bonuses, let them go work for a hedge fund.

Posted by Anguper Hupomosing9418 2010-06-19 13:50|| 2010-06-19 13:50|| Front Page Top

#8 agreed KBK

Posted by Frank G 2010-06-19 16:04|| 2010-06-19 16:04|| Front Page Top

#9 Yeah, my Credit Union charges no fees as long as I have about 300 dollars in either checking or savings. The fact that they don't advertise on the Super Bowl or sponsor prestigious athletic events or make crappy ass loans to welfare recipients may have something to with not only their business practices but their solvency, as well.

Posted by Dash Riprock 2010-06-19 16:17|| 2010-06-19 16:17|| Front Page Top

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