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Banks and profits More

Banks and profits

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  • Now that the banks signed their TARP agreements, they're crying to be let out. Whining about all these evil, usurious contracts forcing them to pay back the money they took, under the terms they took the money!

    http://online.wsj.com/article/SB124035639380840961.html [wsj.com]

    Bankers say it is unfair to charge what amounts to a "prepayment penalty"

    BEST QUOTE EVAR! Especially coming from the guys who invented prepayment penalties for people selling their house, refinancing their mortgage, or just winning the lotto an

    • ...I even maintain a bank account now, besides inertia, had the same checking account for decades now, is to cash paychecks, and that's it, or I wouldn't even use them at all, there are workarounds for everything, even the odd online purchase can be done with a postal money order for instance. And I maintain an account because I can cash checks there free, whereas if I take my *meager* paycheck to the issuing bank, they want 5 bucks to cash their own check! Screw that! That's almost exactly my diesel fuel b

      • "If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

        "I believe that banking institutions are more dangerous to our liberties than standing armies."

        -

  • It's the ultimate double standard: The banks get away with inflating their toxic assets. But at the same time, they're allowed to mark to market their own debts, which happen to be trading at huge discounts on the open market precisely because of their toxic assets.

    Accountants call it a "credit value adjustment." I call it cheating.

    My second year of college, I thought I'd try accounting. I get to work relatively alone, crunch numbers, and make good money, right?

    Well, in the first class, the prof w

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