My point is that the service doesn't really cost them shit. With more customers giving a bank their money, they have more clout to buy better bonds, financial services, etc. You're actually HELPING the bank become bigger by having your money in their accounts. I remember 20/20 or some news program asked some vice president about it and he actually explained checking accounts cost them nothing and it's all pretty much profit from people who overdraft.
^^Forgive the vagueness I saw it so long ago I can't remember the program and I think the bank was Washington Mutual after being bought out by Chase.
this sounds like evil zionest paranoia crap. I doubt the banks set out to fuck poor people. They probably set out to make money off of everything possible. Fucking poor people was just a consequence.Quote:
Originally Posted by dave is ok
EVERYONE is out to fuck poor people. It's only bad when the rich do it though.
Kinda like how racism works too. This group of people can do something, but it's bad if this group over here does it.
Well I find them to be a pretty safe bet, especially if I'm providing a free dinner.Quote:
Originally Posted by Some Stupid Japanese Name
I don't want to fuck poor people, I just don't want to buy them dinners.
Before you get too wrapped up in this "chicken or egg" approach, bear in mind that they are surely very aware of who is doing the overdrafting when they create these fees. Their predatory practices surrounding it (such as approving charges in order of largest transaction to smallest, rather than in chronological order), are targeting the poor.Quote:
Originally Posted by Fe 26
Ah there we go. Much better.Quote:
Originally Posted by Josh
1. Whether or not they're minorities is coincidence, not intent. 2. Lots of these shady businesses definitely prey on poor, but the idiots taking the bait--Xbox for $15 a month, cashing my check today for $10 instead of waiting three days for the check to clear in a bank--have only themselves to blame.Quote:
Originally Posted by Fe 26
These businesses are depressing. But they aren't getting their patrons at the point of a gun. The shitty gas station with loads of liquor has loads of liquor because people are buying it. People make their own bad decisions.Quote:
There were tons of pay day loans and rent a centers. Every gas station was a run down shit hole that kept a fine stalk of malt liquors.
I was just gonna say what Yoshi did...Quote:
Originally Posted by dave is ok
...It isn't some conspiracy against the poor and that you would even translate it as one "is also very telling." Business does not exist to benefit anyone but the business. If a competing business found a way to benefit from giving free checking to people with no money then it'd exist.Quote:
Originally Posted by Yoshi
(P.S. My bank has a minimum balance of $300 for free checking. If you can't keep $300 in your checking you've got grander problems that $10 checking fees.)
On the topic of overdraft fees: Don't overdraft. It is not difficult to keep track of how much money you have, especially if you have almost none of it.
I am not an economist and I'd need a specific tax to talk about for a more concrete explanation, but here goes: Taxes and regulations drive business away. Cutting taxes doesn't just give rich people more money, it gives other people opportunities to create and expand businesses. We cry about businesses fleeing overseas but they don't do it because it's simpler to manufacture in China and ship everything across oceans to the United States. Low wages are part of it. Corporate taxes are part of it. It is certainly not as cut and dry as "rich people get more money and they don't need it."Quote:
Originally Posted by Diff-chan
This isn't entirely true, it's how insurance works. I think the real point is that business is not a charity--we would be nowhere if all business was run like a charity--and using the profits from wealthy folks to pay for services to poor people doesn't make sense unless it makes money. And if you can figure out a way to make money from it, I encourage you to start a business and do it.Quote:
Originally Posted by Yoshi
Personal Responsibility, the liberal agenda's anitchrist.