Google... "Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress"
Our banks aren't profitable, its all smoke and mirrors, and so is the Banker Party ( Democrats & Republicans ) !!! Our economy has been in a steady but hidden collapse for years and the American people are just finding out.
There is one man in Congress that has been trying to warn us for 30 years as it spiraled out of control, but no one listened and now it might be too late. We're listening now Ron Paul.
Ron Paul anyone? Anyone? LOL! Yeah, let's nominate a candidate who has THOUSANDS in campaign finance from Lehman Bros, Citigroup, Credite Suisse, etc etc!!!! (And for those who have not been paying attention, that is Romney I am talking about!) OR we can elect again the president who has done NONE of what he promised us….Or maybe Cain, the former Fed Chairman!! Yeah, HE's a great choice for finance reform. GOOD GOD PEOPLE, wake up and google RON PAUL! Please!!!!
The banks act like they arent making any money!! that is what is really amusing, They are reporting quarterly profits in the billions! You fuckers are just schiils destorting the facts!
@ElJefer Stealing? So if I borrow $100 from you at a high compound interest rate - and I keep only paying the minimum payments, and ten years later I've paid you many thousands of dollars, your ownership of that money is legitimate? THAT is theft my friend, and that's what the banks do, and that's the reason we have national debt. Presidents Jefferson, Jackson and Lincoln understood the evils of banking. Odious debt is itself theft.
Ignorant ASSHOLE. It costs 3-7 cents to process the transaction and they were charging an average of 30-40 cents. They capped it at 23 cents now, that's not called losing money on debit card transactions, lying dickbags. Furthermore, 60 dollars per customer is overcompensating by 200 percent because they know you asshole corporate banking tools will buy their excuse. Thumbs up so others can see their obvious lies.
ANNA RUIN MILITARY FAMILY HOMES! I WANNA FUCK OVER COUNTIES LIKE JEFFERSON! I WANNA BE COMPLICIT WHEN IT COMES TO PONZI SCHEMERS!
(TOO MUCH TO THINK OF RIGHT NOW BUT U GET THE POINT)
dodd-frank PROBABLY IS STUPID AND PIECE OF SHIT. MR DURBIN (ONE OF MY FAVORITE SENATORS; HE SMACKED THE SHIT OUT OF jamie dimon I EVEN READ A LETTER HE SENT DIRECTLY TO jamie dimon IT WAS FUCKING AWESOME. MR. SARKOZY SMACKED HIM UP 2) WITH THE DEBIT CARDS WAS TO PREVENT IMMORAL PROFIT MAKING LIKE jamie dimon
U PPL SOUND SO STUPID WHEN YOU TALK ABOUT REGULATIONS
LETS TAKE jamie dimon FOR EXAMPLE.
MUCH OF HIS "PROFITS" ARE VERY SHADY, UNETHICAL AND IMMORAL. THE FINANCIAL COLLAPSE HAPPENED. NATURALLY, WE'RE GOING TO LOOK AT WHAT/WHY IT HAPPENED AND TAKE A CLOSER LOOK AT HIS BUSINESS. THEN WE COME UP WITH RULES.
SCUMBAG jamie dimon AND OTHERS BITCHING ABOUT REGULATION IS ALMOST LIKE jamie dimon SAYING: "NO! I WANT TO KEEP MANIPULATING SILVER! I WANNA KEEP EMPLOYING ROBOSIGNERS/BURGER KING BOYS! I W
I'm sincerely pleased to find an uproar on this video about someone saying, "We should nationalize banks" and the response that stick out to me are that person should have lived in Russia or China. Well that seems like the best way to argue your point is by insulting others by relating them to countries of lower socio-economic status. P.S. China will most likely over take our economy in the next two decades at the rate their foreign investments continue to rise. So maybe its a good idea?
Does this translate to being mad at the bank? NO, it shouldn't
mad at the merchant? nope
mad at the cost? all services cost money to operate including debit so NO
mad at Obama? a little, he is using the change in the cost of a the service as a tool to demonize banks....who still don't get to keep the cost of the service.
Prior to the change, the credit/debit card company keeps the money and the profit After the change, the same companies keep that money.
It's Not "paying a fee to use our own money" . It's paying a fee to use your money with a debit card service. ..... a service that does not run without costs , it's only automated on your end.
Free yourself, pay cash. If you like the convienence of the debit card......YOU pay the cost , not the merchants ,, not people who don't use debit cards
@2002lees It would be even better if I could choose to use a debit card withouth extra charges to a corrupt government. In "Socialist norway" I enjoy my debit card without any fees. Only having my money in their bank, not someone elses.
Everyone was always paying for the cost of the service called debit cards The price of the cost is in the purchase price. because the merchant increases it prices to cover the cost.
Even people who always pay in cash had to pay for the service in their purchase price.
Now it's only the people who use the service that pays for it. Eventually the price of goods (in free market) will come down. as the merchants are freed from the paying the costs.
@ElJefer I would take it on a case by case basis, with a pragmatic, not ideological, approach. Banks were gouging people before the law, they're still doing it. You are saying that there is no way to dig into these banks' profits? That's absurd. This was a poor way to handle it, I agree.
@TheHireTheBetter. Do you work for BofA??? Do you own stock in BofA? Why the hell do you care about the profits that they've lost? The banks charge a fee, for each swipe of a card. A fee much greater than the cost actually associated with the swipe. This is the basis for the Durbin bill. If a company earns 2.2 billion unfairly (my value judgement) - due to duopoly status in the market - I don't care if this income is lost and I blame them for trying to replace that income in another way.
@TheHireTheBetter. Do you work for BofA??? Do you own stock in BofA? Why the hell do you care about the profits that they've lost? The banks charge a fee, for each swipe of a card. A fee much greater than the cost actually associated with the swipe. This is the basis for the Durbin bill. If a company earns 2.2 billion unfairly (my value judgement) - due to duopoly status in the market - I don't care if this income is lost and I blame them for trying to replace that income in another way.
what a joke. Oh yeah the free market solves all! If YOU don't like it move to somewhere where there are no regulations or create your own little Ayn Rand island like your PayPal hero...
How would the so called "free market" solved the so called Robber Barons or Enron? Its a fine line people.. between no regulation and too much regulation.. this isnt rocket science
This video is stupid ... Yes, Bank of America aims to recoup their perceived losses through the $5 monthly fee, but F^CK them. A real way to judge these happenings is to take a good look at these companies profitability and ask if the original exorbitant swipe fee was justified in the first place. That they replace one price gouging technique with another is no evidence that BOA is unfairly being hurt, and the fault for the $5 fee rests squarely on BOA ... not on the price gouging regulation.
@bizzy17 BofA lost $2.2 billion over the last 12 months. Pull your head out of your ass and get some facts. FFS it would have taken you all of 10 seconds to look it up.
@TheHireTheBetter Poor BofA! In 2010 it lost $2.2b, got sued for $4b, it's stock value dropped 11%, yet it STILL gave Moynihan a $9m "performance bonus". Great job, Brian!
@TehBren So, wait. Before, it was a bad thing that they were making huge profits. Now, it's a bad thing that they lost huge. So if they produce wealth they are bad, and if they lose wealth they are bad? You liberals are an insane, screaming mob, and you don't even have a clue about the nature of what it is you hate, or why you hate it. You simply have hate in your hearts, and need somewhere to vent it.
@TheHireTheBetter If they make profits by breaking the backs of their clients, yes that's bad. If they lose profits, sinking the value of their shareholders, while still handing out bonuses to their executives, yes that's bad. You're the one who sounds like you have hate in your heart, spewing nonsense about "liberals".
@bizzy17 Exactly how I see it. These criminals were making a massive fucking fortune ripping the American public of their hard earned $. Now suddenly because this supposed regulation will cut a small peice of their already gargantuan bottom line they just have no choice at all but to charge a $60 annual fee. Clearly they had a choice and clearly they would have remained profitable w/o this new fee. I'm not siding w/ either party on this 1 just saying BOA made a clear choice on their own.
Wow...just wow.....its incredible how the makers of this vid twisted the whole thing around hahahaha sad. Learn to listen/ read before twisting all this into such ludicrous claims. And get yur facts straight for pete's sake, the world gets enough bull news from the likes of fox news. Dont need independant story twisters to help spread more majorly twisted stories. Good luck and god speed XD
@WTFremixer Just watch the original video to the right of this one....the one thats 14 minutes long and was posted by MOXNews.com. Yes u have to watch the whole thing to understand what he's talkin about. The problem nowadays is that people we are easily influenced by other peoples twisted stories. Just listen to what the man is saying and rewatch this. I'm sure u will understand what I'm sayin'.
I thought the fee was given to Visa and Mastercard? What does that have to do with Bank of America? Were those companies giving money on to the Banks. I don't feel bad at all about the bill, I know a lot of local business hurt by the swipe fee. Just to make ONE sale cost them 40 cents, for EVERY sale. It hurts companies that have low end merchandise like coffee shops. So, this video doesn't show that side well at all.
@donteatthefishsticks the people do have the power. they have the power to do business with whoever they want. if enough people transfer their business elsewhere B of A will have to re-evaluate their position. That's how free markets work. But B of A, and other institutions like them, are having to hike fees due to the government interfering with how they run their business. If you think more government involvement is the answer you belong somewhere else, like China. Or Russia.
@donteatthefishsticks you hate the free market? So you'd rather that government control everything? You understand that's the exact opposite of how this country has always been run right? As for B of A if they want to charge the fees they have every right to. And customers have the right to transfer their business elsewhere.
@Larjams23 I do understand that, yes. Let's see here: despite the constitutionalists' admiration the founding fathers were a collection of slave owners and aristocrats who gave only white male property owners the vote and constructed the country in such a way as to prevent the people from exercising their democratic will, because they knew that if the people ever truly grasped the power they have in a democracy they would seize not just political but economic power. Well I'm with the people.
@ElJefer Yeah, they were "forced" to charge the fees...rather than take a profit hit. Like I said, I acknowledge that regulations may have unintended consequences if the corporations are allowed to bilk their customers in a different way! All bank fees should be banned, but I would rather nationalize the banks entirely and make them a public utility.
I hate the free market. There is no reason the banks profits should be so high. This unintended consequence is unfortunate. I guess we'll just have to nationalize the banks.
Google... "Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress"
Our banks aren't profitable, its all smoke and mirrors, and so is the Banker Party ( Democrats & Republicans ) !!! Our economy has been in a steady but hidden collapse for years and the American people are just finding out.
There is one man in Congress that has been trying to warn us for 30 years as it spiraled out of control, but no one listened and now it might be too late. We're listening now Ron Paul.
davidckirkland 3 months ago
Just put your money under the mattress, it never charges a fee
gardnerbm 4 months ago
@gardnerbm Intell it burns up
801Ajay 3 months ago
Who is John Galt?
IslamistTube3 4 months ago
Who is John Galt?
Transfer funds to credit unions or small local banks today, tomorrow at the latest
IslamistTube3 4 months ago
ok these people just like to give the wrong info to the people.
sider3g 4 months ago
Bank of America has cancelled its plan to implement this fee. Looks like they were never "forced" to do it after all.
donteatthefishsticks 4 months ago
Ron Paul anyone? Anyone? LOL! Yeah, let's nominate a candidate who has THOUSANDS in campaign finance from Lehman Bros, Citigroup, Credite Suisse, etc etc!!!! (And for those who have not been paying attention, that is Romney I am talking about!) OR we can elect again the president who has done NONE of what he promised us….Or maybe Cain, the former Fed Chairman!! Yeah, HE's a great choice for finance reform. GOOD GOD PEOPLE, wake up and google RON PAUL! Please!!!!
ONLYRonPaul1 4 months ago 4
This has been flagged as spam show
@ONLYRonPaul1 Ron Paul 2012!!!
willowcairns 4 months ago
I live in Illinois and Dickhead Durbin is bought and paid for, but the morons in this state keep voting for him. Pisses me off!!!
ghostRs1 4 months ago 4
@ghostRs1 At this point, the vast majority of them are bought and paid for, sad as it is.
etruscan53 2 months ago
The banks act like they arent making any money!! that is what is really amusing, They are reporting quarterly profits in the billions! You fuckers are just schiils destorting the facts!
jdavis8677 4 months ago
CLOSE THE BANK ACCOUNT PEOPLE SHUT THIS PEOPLE DOWN
LAMBO8591 5 months ago
@ElJefer Stealing? So if I borrow $100 from you at a high compound interest rate - and I keep only paying the minimum payments, and ten years later I've paid you many thousands of dollars, your ownership of that money is legitimate? THAT is theft my friend, and that's what the banks do, and that's the reason we have national debt. Presidents Jefferson, Jackson and Lincoln understood the evils of banking. Odious debt is itself theft.
donteatthefishsticks 5 months ago
Ignorant ASSHOLE. It costs 3-7 cents to process the transaction and they were charging an average of 30-40 cents. They capped it at 23 cents now, that's not called losing money on debit card transactions, lying dickbags. Furthermore, 60 dollars per customer is overcompensating by 200 percent because they know you asshole corporate banking tools will buy their excuse. Thumbs up so others can see their obvious lies.
tooosweeet 5 months ago
I'm always amazed to see conservatives in Maryland and DC what did you guys drive up from Virginia or something?
Mostdef 5 months ago
ANNA RUIN MILITARY FAMILY HOMES! I WANNA FUCK OVER COUNTIES LIKE JEFFERSON! I WANNA BE COMPLICIT WHEN IT COMES TO PONZI SCHEMERS!
(TOO MUCH TO THINK OF RIGHT NOW BUT U GET THE POINT)
dodd-frank PROBABLY IS STUPID AND PIECE OF SHIT. MR DURBIN (ONE OF MY FAVORITE SENATORS; HE SMACKED THE SHIT OUT OF jamie dimon I EVEN READ A LETTER HE SENT DIRECTLY TO jamie dimon IT WAS FUCKING AWESOME. MR. SARKOZY SMACKED HIM UP 2) WITH THE DEBIT CARDS WAS TO PREVENT IMMORAL PROFIT MAKING LIKE jamie dimon
Eleetnessful 5 months ago
U PPL SOUND SO STUPID WHEN YOU TALK ABOUT REGULATIONS
LETS TAKE jamie dimon FOR EXAMPLE.
MUCH OF HIS "PROFITS" ARE VERY SHADY, UNETHICAL AND IMMORAL. THE FINANCIAL COLLAPSE HAPPENED. NATURALLY, WE'RE GOING TO LOOK AT WHAT/WHY IT HAPPENED AND TAKE A CLOSER LOOK AT HIS BUSINESS. THEN WE COME UP WITH RULES.
SCUMBAG jamie dimon AND OTHERS BITCHING ABOUT REGULATION IS ALMOST LIKE jamie dimon SAYING: "NO! I WANT TO KEEP MANIPULATING SILVER! I WANNA KEEP EMPLOYING ROBOSIGNERS/BURGER KING BOYS! I W
Eleetnessful 5 months ago
I'm sincerely pleased to find an uproar on this video about someone saying, "We should nationalize banks" and the response that stick out to me are that person should have lived in Russia or China. Well that seems like the best way to argue your point is by insulting others by relating them to countries of lower socio-economic status. P.S. China will most likely over take our economy in the next two decades at the rate their foreign investments continue to rise. So maybe its a good idea?
HalfOnlyEvil 5 months ago
Does this translate to being mad at the bank? NO, it shouldn't
mad at the merchant? nope
mad at the cost? all services cost money to operate including debit so NO
mad at Obama? a little, he is using the change in the cost of a the service as a tool to demonize banks....who still don't get to keep the cost of the service.
Prior to the change, the credit/debit card company keeps the money and the profit After the change, the same companies keep that money.
2002lees 5 months ago 2
It's Not "paying a fee to use our own money" . It's paying a fee to use your money with a debit card service. ..... a service that does not run without costs , it's only automated on your end.
Free yourself, pay cash. If you like the convienence of the debit card......YOU pay the cost , not the merchants ,, not people who don't use debit cards
2002lees 5 months ago 10
@2002lees It would be even better if I could choose to use a debit card withouth extra charges to a corrupt government. In "Socialist norway" I enjoy my debit card without any fees. Only having my money in their bank, not someone elses.
Terje1337 1 month ago
Everyone was always paying for the cost of the service called debit cards The price of the cost is in the purchase price. because the merchant increases it prices to cover the cost.
Even people who always pay in cash had to pay for the service in their purchase price.
Now it's only the people who use the service that pays for it. Eventually the price of goods (in free market) will come down. as the merchants are freed from the paying the costs.
2002lees 5 months ago 3
Comment removed
TehBren 5 months ago
@ElJefer I would take it on a case by case basis, with a pragmatic, not ideological, approach. Banks were gouging people before the law, they're still doing it. You are saying that there is no way to dig into these banks' profits? That's absurd. This was a poor way to handle it, I agree.
donteatthefishsticks 5 months ago
Loved this video, it was spot on.
JSWill1963 5 months ago
A stupid pimp rolling buffoon who is nothing but an out of control monkey.
OBAMASTINKSLIKEANAPE 5 months ago
@TheHireTheBetter. Do you work for BofA??? Do you own stock in BofA? Why the hell do you care about the profits that they've lost? The banks charge a fee, for each swipe of a card. A fee much greater than the cost actually associated with the swipe. This is the basis for the Durbin bill. If a company earns 2.2 billion unfairly (my value judgement) - due to duopoly status in the market - I don't care if this income is lost and I blame them for trying to replace that income in another way.
bizzy17 5 months ago
@TheHireTheBetter. Do you work for BofA??? Do you own stock in BofA? Why the hell do you care about the profits that they've lost? The banks charge a fee, for each swipe of a card. A fee much greater than the cost actually associated with the swipe. This is the basis for the Durbin bill. If a company earns 2.2 billion unfairly (my value judgement) - due to duopoly status in the market - I don't care if this income is lost and I blame them for trying to replace that income in another way.
bizzy17 5 months ago
Fuck Dick Turbin....
HangProgressives 5 months ago
what a joke. Oh yeah the free market solves all! If YOU don't like it move to somewhere where there are no regulations or create your own little Ayn Rand island like your PayPal hero...
How would the so called "free market" solved the so called Robber Barons or Enron? Its a fine line people.. between no regulation and too much regulation.. this isnt rocket science
sadfsdfsdfsdfs 5 months ago
This video is stupid ... Yes, Bank of America aims to recoup their perceived losses through the $5 monthly fee, but F^CK them. A real way to judge these happenings is to take a good look at these companies profitability and ask if the original exorbitant swipe fee was justified in the first place. That they replace one price gouging technique with another is no evidence that BOA is unfairly being hurt, and the fault for the $5 fee rests squarely on BOA ... not on the price gouging regulation.
bizzy17 5 months ago 2
@bizzy17 BofA lost $2.2 billion over the last 12 months. Pull your head out of your ass and get some facts. FFS it would have taken you all of 10 seconds to look it up.
TheHireTheBetter 5 months ago
@TheHireTheBetter Poor BofA! In 2010 it lost $2.2b, got sued for $4b, it's stock value dropped 11%, yet it STILL gave Moynihan a $9m "performance bonus". Great job, Brian!
TehBren 5 months ago
@TehBren So, wait. Before, it was a bad thing that they were making huge profits. Now, it's a bad thing that they lost huge. So if they produce wealth they are bad, and if they lose wealth they are bad? You liberals are an insane, screaming mob, and you don't even have a clue about the nature of what it is you hate, or why you hate it. You simply have hate in your hearts, and need somewhere to vent it.
TheHireTheBetter 5 months ago
This has been flagged as spam show
@TheHireTheBetter If they make profits by breaking the backs of their clients, yes that's bad. If they lose profits, sinking the value of their shareholders, while still handing out bonuses to their executives, yes that's bad. You're the one who sounds like you have hate in your heart, spewing nonsense about "liberals".
TehBren 5 months ago
@bizzy17 Exactly how I see it. These criminals were making a massive fucking fortune ripping the American public of their hard earned $. Now suddenly because this supposed regulation will cut a small peice of their already gargantuan bottom line they just have no choice at all but to charge a $60 annual fee. Clearly they had a choice and clearly they would have remained profitable w/o this new fee. I'm not siding w/ either party on this 1 just saying BOA made a clear choice on their own.
lamiac2411 5 months ago
Comment removed
bizzy17 5 months ago
Wow...just wow.....its incredible how the makers of this vid twisted the whole thing around hahahaha sad. Learn to listen/ read before twisting all this into such ludicrous claims. And get yur facts straight for pete's sake, the world gets enough bull news from the likes of fox news. Dont need independant story twisters to help spread more majorly twisted stories. Good luck and god speed XD
dvdjet 5 months ago 2
@dvdjet so which part of the video is wrong?
WTFremixer 5 months ago
@WTFremixer Just watch the original video to the right of this one....the one thats 14 minutes long and was posted by MOXNews.com. Yes u have to watch the whole thing to understand what he's talkin about. The problem nowadays is that people we are easily influenced by other peoples twisted stories. Just listen to what the man is saying and rewatch this. I'm sure u will understand what I'm sayin'.
dvdjet 5 months ago
@dvdjet The problem is, the maker if this video has his facts straight. People like you do not.
JSWill1963 5 months ago
@JSWill1963 Hahahahah ok whatever man. Good luck and god speed to u aswell ;)
dvdjet 5 months ago
@dvdjet Same to you. :)
JSWill1963 5 months ago
I thought the fee was given to Visa and Mastercard? What does that have to do with Bank of America? Were those companies giving money on to the Banks. I don't feel bad at all about the bill, I know a lot of local business hurt by the swipe fee. Just to make ONE sale cost them 40 cents, for EVERY sale. It hurts companies that have low end merchandise like coffee shops. So, this video doesn't show that side well at all.
plaidklaus 5 months ago 2
This has been flagged as spam show
watch the original video before forming a conclusion.
Faceblur 5 months ago
This has been flagged as spam show
Watch the original video before forming your conclusion.
Faceblur 5 months ago
Watch the original video before forming your conclusion.
Faceblur 5 months ago
@donteatthefishsticks the people do have the power. they have the power to do business with whoever they want. if enough people transfer their business elsewhere B of A will have to re-evaluate their position. That's how free markets work. But B of A, and other institutions like them, are having to hike fees due to the government interfering with how they run their business. If you think more government involvement is the answer you belong somewhere else, like China. Or Russia.
Larjams23 5 months ago
This has been flagged as spam show
@donteatthefishsticks you hate the free market? So you'd rather that government control everything? You understand that's the exact opposite of how this country has always been run right? As for B of A if they want to charge the fees they have every right to. And customers have the right to transfer their business elsewhere.
Larjams23 5 months ago
@Larjams23 I do understand that, yes. Let's see here: despite the constitutionalists' admiration the founding fathers were a collection of slave owners and aristocrats who gave only white male property owners the vote and constructed the country in such a way as to prevent the people from exercising their democratic will, because they knew that if the people ever truly grasped the power they have in a democracy they would seize not just political but economic power. Well I'm with the people.
donteatthefishsticks 5 months ago
Comment removed
Larjams23 5 months ago
@ElJefer Yeah, they were "forced" to charge the fees...rather than take a profit hit. Like I said, I acknowledge that regulations may have unintended consequences if the corporations are allowed to bilk their customers in a different way! All bank fees should be banned, but I would rather nationalize the banks entirely and make them a public utility.
donteatthefishsticks 5 months ago
I hate the free market. There is no reason the banks profits should be so high. This unintended consequence is unfortunate. I guess we'll just have to nationalize the banks.
donteatthefishsticks 5 months ago
Thank you, for posting.
Lipsnx4u 5 months ago