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Competition being Eliminated!

Discussion in 'Political Discussion' started by PatriotsReign, Sep 6, 2008.

  1. PatriotsReign

    PatriotsReign Rookie

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    So far, a total of 11 US banks have failed this year. The latest is one called the Silver State Bank of Nevada. None of the failed banks have been large national banks. Some may think "good", but is it good? What is happening is the competition for the large bands are being eliminated. They are not getting bailed out while the larger ones are.

    No, this is not good. Try opening an account at bank of America with less than $10K...you can, but it'll cost you $20/month. That's right, you'll LOSE money but letting them use you $5 or $6K!

    Smaller regional banks are vital to keeping the big banks honest....or somewhat honest anyway. Just keep watching bank failures and notice how each one is comparatively small.

    http://money.cnn.com/2008/09/05/news/economy/bank_closure.ap/index.htm?postversion=2008090607
    Last edited: Sep 6, 2008
  2. MrBigglesWorth

    MrBigglesWorth Rookie

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    I guess franchising America isn't working with everything. maybe just Walmart and restaurants
  3. IcyPatriot

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

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    #87 Jersey

    Send a thank you note to Nancy Pelosi ... socialism here we come.
  4. PatriotsReign

    PatriotsReign Rookie

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    Cut the crap FBN...it has nothing to do with partisan politics but everything to do with politics.
  5. IcyPatriot

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

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    #87 Jersey

    absolutely ... who do you think brings these bills to the floor? Nancy Pelosi ... she could table them or continue debate for them or she can hurry them to vote ... she hurries them to vote ... partisan?
  6. PatriotsReign

    PatriotsReign Rookie

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    Hello??? The senate doesn't vote on which banks get bailed out and which are closed. They have no oversight on banking.
  7. IcyPatriot

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

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    #87 Jersey


    If I say she has a lot to do with it she has a lot to do with it for cripes sake. :p
  8. PatriotsReign

    PatriotsReign Rookie

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    Oh....in that case, my apologies...you're right!;)
  9. otis p. driftwood

    otis p. driftwood Rookie

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    You guys do realize Pelois is the Speaker of the House, right? House isn't the Senate, right?


    Just sayin'.

    :D


    I mean, blame Pelosi all you want, she's a waste of space---but don't give her credit for an office she doesn'thold, and god willing will never hold.
  10. PatriotsReign

    PatriotsReign Rookie

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    Thanks Otis...you're right. I meant to use the word congress. also, I was being facetious with FBN
    Last edited: Sep 6, 2008
  11. Run DMC

    Run DMC Rookie

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    2 words- credit unions.
  12. PatriotsReign

    PatriotsReign Rookie

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    ahh...the forgotten credit union! Who can't love them? They are like the "peoples'" bank:p
  13. otis p. driftwood

    otis p. driftwood Rookie

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    Sigh.


    Just when I think progress is being made....:(

    You're gonna love me when the revolution starts and you need powder and bullets....

    :cool:
  14. Michael

    Michael Moderator Staff Member PatsFans.com Supporter

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    #12 Jersey

    I agree with what you are saying but, this has been going on for as long as I can recall. My first bank, that I had been with since I was a kid in the 70s, was literally called Community Savings Bank. It was bought out by Andover Bank which was bought out by Baybank and then Soveriegn. And that was all during the 90s. When I moved to NV I changed to WAMU and when I moved back to MA I went to the dreaded Bank of America. Fortunately for me I opened a 6 figure CD with them so I get free checking and on-line banking. I have an on-line savings account with another bank that I automatically deposit $200 week into. And that is something Americans can do. Save. Stop living ghetto fabulous or competing with your neighbors for the best cars etc. I bought a brand new Hyundai and I payed cash for it. It can be done.
  15. PatriotsReign

    PatriotsReign Rookie

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    Wow, we actually agree:eek:

    It's amazing how we didn't see how phony and materialistic we had/have become. A monster called the "frenzied consumer" was born in the 90's and that monster was us. Now, I'm guessing from your long-term habit of savings, you saw through this and didn't succomb. Not me...I wish! but I am now.

    You also sound like one of my brothers. he and his wife paid off their house in 5 years and save like maniacs. They always have. they buy nothing on credit, not even cars. They make above avg income, but not extremely so. But their savings is probably better than most who make 2x's as much.
  16. otis p. driftwood

    otis p. driftwood Rookie

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    Ha. I just bought an 06 Ford Expediton for cash for about 12K under book (I can buy a lot of gas for 12K...considering I work at home and put something like 10k a year in mileage.


    And that's the "economy dog carrier I can sleep in" car. The 02 Dodge truck is also paid for.

    My mortgage is now so low I could pay it off with the balance in my savings account.


    Yeah, its all about saving and investing and not living (blanking) rich.


    My TV is an old RCA glass model,one of the first HDTVs. But I got it cheap ($400) from a guy who needed the money(cause he'd spent several grand getting his system working). What do I care? I watch movies downloaded from the internet (not pirated, thanks) and burned to DVD.


    My upstairs tenants have an LCD that doesn't look as good as my glass, even though it's half the weight and half again the size.

    But they pay me to live---I don't pay them. I know Pee-Reign knows how it works, do the rest of you?

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