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Class Warfare?

Discussion in 'Political Discussion' started by Mrs.PatsFanInVa, Nov 7, 2011.

  1. Mrs.PatsFanInVa

    Mrs.PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    #24 Jersey

    So much for those who claim that it's the poor and middle class people who are trying to divide the classes and create a class warfare.

    Now they're opening banks that will keep the coins of the wealthy from clanking with coins from the common class.

    Wells Fargo & Co.'s new bank for the super rich is set to open in Chicago, targeting households with $50 million or more to invest.

    Abbot Downing is named after a 19th century custom carriage builder who catered to the wealthy, according to UPI. The firm has $27.5 billion in client assets and about 300 people on staff -- including psychologists and staff dedicated to building family genealogies, the Chicago Sun-Times reports.

    "Abbot Downing goes beyond traditional wealth planning analysis by focusing on clients' values, goals and vision," James Steiner, who will run Abbot Downing, said in a statement. "Our advisors and Family Dynamics consultants focus not only on traditional wealth planning, such as cash flow, investments and wealth transfer, but also on human dimensions, such as family legacy, governance, leadership transition, family education and risk management."

    The brand will reportedly be launched in April 2012. Aside from an office in Chicago, they will also be opening in San Francisco, Los Angeles, Scottsdale, Denver, Houston, Minneapolis, Philadelphia, Charlotte, Winston-Salem, Raleigh, Naples, Jacksonville and Palm Beach.



    Abbot Downing, Wells Fargo's Bank For Super Rich, Opening In Chicago
     
  2. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    You mean every business in this country does not target the demographics of the 99%. :confused3:
     
  3. Mrs.PatsFanInVa

    Mrs.PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    #24 Jersey

    Probably not quite so blatantly.

    And, come to think of it, there are probably more businesses that court the poor and the middle class than there are businesses that court the ultra-rich.

    Rent to Own centers come to mind. Slumlords. Payday Loan centers. Walmarts, KMarts, MacDonalds, TacoBell.

    For every Ruth Cris Steak House here in DC there are probably 500 McDonalds/Burger Kings. For every Neiman Marcus store there are 20 Targets and WalMarts.

    I guess the thing that's telling is that these new "rich only" banks will be full of money that once belonged to 10,000 poor men and now sits in the bank account of 1 rich man - and he's the one who's going to get psychological help and risk management assistance as part of his account status.
     
  4. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Why would anyone assume that the source of their wealth is "the poor"? Maybe they made all their $$ from other wealthy people.

    Are you stating that people who are wealthy "took from the poor" as if they some how did something wrong? Does anyone in America force poor people to give them money.

    The last thing we need to do is to point our fingers at a wealthy person and blame them for taking $$ from the poor. That's pretty sad.
     
  5. Mrs.PatsFanInVa

    Mrs.PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    #24 Jersey

    Yeah, PR, I'm sure that Sam Walton made all his money from The Vanderbilts, The Kennedys and the Romneys.

    The word "court" and the word "take" are not one and the same, PR. Don't replace one with the other.

    So then quit trying to imply it - or to say that I implied it.

    Are you denying the fact that the businesses I mentioned cater to poor people? Do you deny the fact that the people who own these businesses are rich? It has nothing to do with "blame" and everything to do with truth.
     
  6. mcgraw_wv

    mcgraw_wv In the Starting Line-Up

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    This just in Ruth Chris makes steaks only for the wealthy...
     
  7. mcgraw_wv

    mcgraw_wv In the Starting Line-Up

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    Oh, and feel free to start your own business which caters to those who only have a net worth of much less, compete with them, and may the best business model win.

    Don't be afraid to compete with the rich.
     
  8. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    I wasn't referring to your "courting" comment but rather this....

    The above comment did in fact "imply it".

    I did not replace "court" with "take". I don't think anyone should care where someone's money came from as long as it's legal.
     
    Last edited: Nov 7, 2011
  9. PatriotsReign

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    #18 Jersey

    Let me get this straight mcgraw.

    Poor people don't own businesses, so they have to spend their $$ somewhere. But they have a choice where they spend it. So isn't it sad that the $$ that sits in the account of the business owner includes $$ from poor people?

    What is sad is that people try to make this an issue when by default, it's supposed to work this way!
     
  10. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    When all the rich people are destroyed and leave the country the Poor Man Will Starve To Death

    How many people in America work for McDonalds?

    I LOVE OIL I'M NICE AND WARM THIS MORNING

    I'VE HAD A GOOD LIFE, I'VE WORKED FOR RICH PEOPLE
     
  11. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey



    Most people do....
     
  12. chicowalker

    chicowalker Pro Bowl Player

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    I don't really understand the issue here.

    First, this doesn't sound like a "bank" as we usually think about -- not the local BofA or Wells Fargo. Sounds like it's just a new name for their wealth management arm, or a new effort in an area where they already have people dedicated. Nothing new as a concept.
     
  13. Mrs.PatsFanInVa

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    #24 Jersey

    It's not. Most banks don't discriminate based upon personal wealth.
     
  14. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    Ummmm...
    I think the point is that the rich are whining about "Class WARFARE!" when the truth is they have all the guns and ammo and everyone else is coming at them with spit-balls and straws. It really messes up their polo matches and trips to Monaco.

    Yeah...that's pretty much the point...I think.

    And we're just talking about the US, right? The rich have been in a perpetual "battle" with the classes. To remove all doubt about the intent of this next photo- just so no one is confused- this picture illustrates the global perspective.

    [​IMG]
     
  15. PatriotsReign

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    #18 Jersey

    Any bank that has a "Minimum Deposit" policy does in fact discriminate. So I guess most banks discriminate, huh?
     
  16. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    And you're blaming that on "Rich People" wistah?

    Let's not demonize any class of people. Because the stark reality is, rich, poor or somewhere in the middle...no class is by default more or less evil than any other
     
  17. chicowalker

    chicowalker Pro Bowl Player

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    That's not what I was referring to. It's not clear from the article, but I don't think this is a business where people bring checks to a branch for a deposit, to withdraw cash, etc. It sounds much more like a branded private wealth / family office unit of Wells -- and that part of Wells already has minimums for the service, I'll guarantee.

    But banks as we commonly think of them certainly do have minimums for different kinds of accounts, what qualifies for various fees, etc. Is that wrong, too?

    Is a Ferrari dealership "discriminating" against the poor?

    Again, I'm not sure what the issue is here -- maybe I missed it, but if not, could you possibly repeat it for me?
     
  18. chicowalker

    chicowalker Pro Bowl Player

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    if that's the case, I partly agree -- except it isn't even the rich, for the most part.

    imo, it's almost entirely the politicians

    Both parties play class warfare games. The housing crisis showed that most clearly. Dems and libruls blamed the greedy banks and brokers, pubbies / cons blamed the stupid or irresponsible poor. Truth was that lots of people, thoughout the housing / mortgage cycle, shared in the blame. imo, anyway.
     
  19. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    I don't use words like "evil" and "good" to describe one group or another. Individuals in those groups can be one or the other, but I give no supernatural weight to either. They're just words.

    Just saying, this whole use of the term "class warfare" has been initiated and perpetuatuated by the outlets and institutions of the "rich". They need to stop using terms like that, because the vast majority of them have no idea what the word "war" represents as they have never been involved in one. Warren Buffet agrees with me...so there!
     
  20. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    Like I stated in previous post: Those you cite are all institutions or mechanisms of the rich until elections come around. Then they go into "Man of the People" mode to keep their jobs (D & R politicians) and sell their junk (media and banks).
     

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