"Are Whites Racially Opressed?" a.k.a. "How Hard Can CNN Troll?"

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Originally Posted by Gohron

The rich make this country go round. You can hate on them all you want but it doesn't change the fact.

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The past decade or three disagree with that statement.

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Originally Posted by Yoshi

You're forgetting about Wal Mart's check cashing "service" and other offerings designed to screw people. It's not just the obvious retail component. They are absolutely no different than a Rent A Center or pay day loan place.

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Are we really comparing a $5 check cashing fee to pay day loans and and paying 600$ to eventually own a 360?

really?

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Originally Posted by dave is ok

The past decade or three disagree with that statement.

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Don't be ridiculous. If we got rid of all the rich people in this country, it would topple in weeks, if not days.

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Originally Posted by dave is ok

The past decade or three disagree with that statement.

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Does it? Diff has been stated over and over again that the top .1% have been soaking up the bulk of the increase in GDP or whatever.

It doesn't sound like Gohron is saying anything different.

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Originally Posted by dave is ok

Banks charging 10 dollars per month for checking accounts with less than 1,500 dollars in them is also very telling.

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Banks make money by investing your money. If you don't give them any to invest, they have to charge you something in order to cover their expenses and profits for the services you use. It isn't discrimination; it's common sense.

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Originally Posted by Fe 26

Are we really comparing a $5 check cashing fee to pay day loans and and paying 600$ to eventually own a 360?

really?

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Yes?

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Originally Posted by Yoshi

Banks make money by investing your money. If you don't give them any to invest, they have to charge you something in order to cover their expenses and profits for the services you use. It isn't discrimination; it's common sense.

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Banks make money from borrowing from the Fed at 0-1% interest and loaning it out for ten times that. This isn't about a bank being in danger of not being profitable, otherwise the large banks wouldn't collect these fees and the small ones would - when it is exactly the opposite situation.

The truth is that banks got addicted to fee based revenue some years ago, and when usury regulation made it more difficult to collect they branched out and attached fees to anything they could. 3 dollars to use an ATM, 5-10 dollars per month to have a checking account, 10 bucks to cash a check if you're not a customer, etc.

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Originally Posted by Fe 26

Does it? Diff has been stated over and over again that the top .1% have been soaking up the bulk of the increase in GDP or whatever.

It doesn't sound like Gohron is saying anything different.

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We agree that they are taking all the money. Gohron is saying that our economy would be worse if that weren't the case. I disagree. The economy is better when the money is in the hands of the consumers, not the hoarders.

Look at the decade since the Bush tax cuts were passed. It wasn't exactly a 'boom' time... well it was, but the 'boom' was the explosion of middle and working class peoples savings, pensions, 401ks and home values.

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Originally Posted by dave is ok

Banks make money from borrowing from the Fed at 0-1% interest and loaning it out for ten times that. This isn't about a bank being in danger of not being profitable, otherwise the large banks wouldn't collect these fees and the small ones would - when it is exactly the opposite situation.

The truth is that banks got addicted to fee based revenue some years ago, and when usury regulation made it more difficult to collect they branched out and attached fees to anything they could. 3 dollars to use an ATM, 5-10 dollars per month to have a checking account, 10 bucks to cash a check if you're not a customer, etc.

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You're talking about two different services. Of course loans are a source of revenue. But if that were the only one, they wouldn't offer checking or savings accounts at all. And if you ran a business, you'd make the same decision. I don't often defend that industry, but you're attacking on the wrong front.

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Originally Posted by Yoshi

You're talking about two different services. Of course loans are a source of revenue. But if that were the only one, they wouldn't offer checking or savings accounts at all. And if you ran a business, you'd make the same decision. I don't often defend that industry, but you're attacking on the wrong front.

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How much money do you think people need to have in an account for a bank to "make money" off of them? Let's say 1,500.00 since that is what is required to avoid fees. Someone with 100,000 in an account then can cover the fee for 66 people without the required funds to avoid a fee. A single lawyers IOLTA account could cover hundreds of people. The banks never needed to use fees to make money before 10 years ago and in that time the biggest banks profits have soared. I refuse to believe that they need this source of revenue.

It's meant to fuck poor people. Just like the 40 dollar overdraft fees.