Tuesday, October 18, 2011 4:08:44 AM
MechBFP: I make a calm statement and you start pushing the envelope with biased words saying I'm delusional and believe rubbish. That is one of the reasons I dislike this board so much, so much hatred.
1st: The bank can /ask/ you to leave. However, the bank /has their money/ and so they have a right to be there. If they are causing a disturbance, then there is a little more that the bank can do.
2nd: They cannot force you to leave for any reason they dream up. This people of this country have rights afforded to them by the Federal Civil Rights Act. This actually makes it such that a business cannot ask someone to leave because they are black, gay, Buddhist, or Iranian.
If you are a member at a bank and they deny you service /without cause/, then I guarantee you that it will bite them in the ass later. Is that what happened here? We`ll have to wait and see.
A private business doesn`t have quite as much power as you apparently think it doe
They were disruptive. This is the problem with this movement. It is unorganized, there is not ONE concise message (everyone wants something different, some right, some wrong) and they are not peaceful, they are breaking laws.
Monday, October 17, 2011 2:41:17 PM
Yeah, mass withdrawl would be a bad idea; stuff like pensions and life insurance are tied up in these banks, and it isn't the 99% who are protesting, it`s not even 10% of the 99%. Although I agree with the concepts of OWS, mass closing of bank accounts would result in another depression; this time a world depression. Or, another mass bailout, paid for mostly by the 89% of the 99% :/ Sorry for the fuzzy maths but it makes sense to me!
Monday, October 17, 2011 1:13:49 PM
@MeGrendel, Yes, banks are only able to make a 200% profit on each debit card transaction than their previous 400%. If businesses were run on a profit model, this wouldn't be a problem...but instead businesses are run to maximize stock prices. Which means profit alone isn`t enough. You need projections for quarterly growth to increase share price.
Checking accounts used to be done with paper checks. Over the years, they`ve moved to a much more effecient and cheaper electronic system which has pretty much made paper checks exctinct. Since then, people have also migrated from using credit cards (which banks make more money off of) to debit cards.
They are changing the fee structure to lure customers back to using credit instead of debit. And in the end banks are charging us to use our money that we`re letting them borrow to use as they see fit.
That doesn`t change the fact this video is somewhat staged and very biased, after-the-fact viewpoint...but banks are n