Should we all call our banks, especially those not lending?
My friend has his checking account at Wachovia/Welles Fargo, one of the banks that took taxpayer bailout money. Should he call them and ask them what they're doing about lending that money to mainstreet, and tell them if they're not making loans to credit worthy people, he'll move his money to banks that are lending?
Would that kind of citizen pressure en masse work?
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12 Responses to “Should we all call our banks, especially those not lending?”
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No, because they know you won't move it. Even if everyone did then the bank would go bankrupt and want more money.
that could possibly work. banks are hesitating to see how borrowers are going to pay back the money if they are losing their jobs. it's really a catch-22
Go to a credit union like Vystar instead.
Take out the account and tell them why.
Nope just cause another bailout, that would be capitalism, allowing peoples choice and supply and demand to reign free
That's exactly why I do my banking in a hometown, locally owned bank.
Yes, he your friend should call and ask. If they are not lending I would advise he contact officials in Washington and let them know.
Do you think they would give a crap? They don't.
He shouldn't have money there anyway, I would have moved it a LONG time ago.
I don't think the bank would be too honest, they would just say -yeah we lend to people all the time. Good idea though only if people were honest these days.
Change banks. Your really don't need a checking account if you pay on-line. Pay off your bank card when it comes due. Pay cash when you can so the bank cards don't take their 8 percent cut — higher in most states than sales tax. Use store credit cards if you don't want to carry all that cash.
This the banks will notice. To this the banks will respond. Also, ask the local police dept — paid for with your taxes — to be a little lax on patrolling the neighborhoods of bankers.
I saw on TV yesterday a group of unemployed people got on a bus and went to various ceos of banks homes and made their statements…Im all for fear mongering now..I do not see anything in this bill that will help us individual es, I don't think OUR government really wants to see the POWER of the people.
Go to a family-owned or regional bank, or a local credit union.
As for the big boys, don't even get me started on the likes of Bank of America, Citi, and other similar legalized loan-sharks. I have a friend who got badly into debt doing a lot of blow in college, and though she'd been paying it off, they raised her credit card rates to 30% recently. No, that's not a typo – 30%, knowing that credit is essentially unavailable and that she'd have no choice but to pay it or default. Unbelievable. What a bunch of criminals. We ought to round up the lot of the executives of these crime syndicates and CUT THEIR HEADS RIGHT THE F*** OFF. Marie Antoinette style, baby. I'm serious, this crap is getting absolutely ridiculous, and they need to be taught a lesson. People need to stand up for themselves and their rights.
Screw this non-violent protest crap – you think the banksters are non-violent? Please. You know who owns much of Citigroup? The Saudi royal family – probably the most ruthless regime in the world. Yeah, that's right, you're paying a 21% APR to the Saudi elite. If that doesn't make you mad enough to want to kill the sociopathic cockroaches who destroyed the US economy, you ought to just take another Zoloft, turn on the brainwashing machine/TV, and get ready for another day of indentured servitude in the morning, because you're beyond hopeless.
Dude, during the meeting with Henry Paulson before the TARP money was handed out, the President of Wells Fargo was called to that meeting. He was asked how much money Wells Fargo needed to be liquid with their assets. Paulson was told that Wells Fargo did not get involved in all these toxic loans and needed no bailout. Paulson ordered Wells Fargo to take $25 million dollars or they would not be allowed to leave the room. I bank at Wells Fargo. I have no trouble getting a loan or credit cards but that is because I am credit worthy and pay my bills on time.
Home loans were made to people who could never afford the homes they bought and they knew they couldn't afford them. The banks except for a few waived normal credit procedures and loaned them the money for the home, knowing they had no risk because Fannie Mae and Freddie Mac would buy the loan.
Wells Fargo was one of the few banks not involved in this mess but was forced to take the money by the federal government.