We, the American taxpayers were the ones robbed! Some made more money when bonuses were handed out, for what I havn t a clue. The Wal Mart of banking? Well.... there ya go.
when any body has an overdraft and the bank hits them with 3 overdraft fees before they contact you is straight up thievery . that needs to be regulated and illegal.
Take a look at huntington bank that charges each time you overdraft which makes me wonder why am I paying that bank for overdraft protection I'd the bank is going to charge me $45.00 each time I overdraft.
I agree - banks are a "public service industry" that takes all the "tax benefits" allowed to "public services" - which are greater tax benefits than say a manufacturer or retailer or even a Photography Studio such as I own. So banks are like any other utility - such as the Power, Gas & Water. So I think banking fees should be "invoiced" and allow 15 - 30 days to pay these fees - instead of yanking funds from your account instantly - and delays in notifying or showing up on your account records = delays to consumers of banking services receiving notice of the fee charges - often causes "more overdrafts" or inaccuracies in personal accounting. Banks are no longer serving the public - yet they take all the tax breaks of a public service. For example, I recently went into a PNC Bank to make the change on a $100 dollar bill to (five) - $20 dollar bills (for increase personal safety - usually avoiding carrying large bills in my wallet - I put (one) $20 in my wallet and the remaining (four) $20's - I hide elsewhere in my clothing). PNC refused to change out the $100 - after asking if I had an account with them. So I asked them - are you a public bank (listed on the FCC & FDIC public exchange) or is PNC a private club or Credit Union owned by private stock and shareholders with no Federal Insurance backed by the Taxpayers? They threatened to call security if I didn't leave. I would help anyone I could to protect their assets and cash - to make our city, nation, and the world - a little safer in protecting our commonwealth - but not our banks. PNC is not alone - I've had Bank of America, Wells Fargo, & Chase all refuse public services to me due to lack of accounts with them. And Chase - I have a Retail Card through them = but they want you to have a checking or savings account before they will do anything for you. YET they get my tax dollars via their tax breaks not to mention taxpayers FDIC insurance for them to supposed to be a "public service." BUT are not. (To make matters worse - when they build a bank on the corner - they get a lot of federal, state, and local taxpayer subsidies to build the building. Then, NOT do simple services for us like changing large bills).
You ever see the video where theyre explaining default credit swaps and dude (no idea who the f it is) gets all pompous even though theyre toxic and destroyed these banks we had to bail out with like "theyre important useful financial tools" interviewer said "but didn they destroy the economy" and he like smiles and says "they're just useful tools you wouldnt understand." Theyre fuckin crooks and its the nature of these people and big business to fuck over whoever to save any penny they can to generate these big numbers for bigger payouts. Its the nature of the beast but what are we supposed to do about it ya kno. Annoying
Country Wide and Merill Lynch were the headache for Bank of America. It was a great organization until they bought these business. If they stayed away, the stock would be over $200. Ken Lewis was too nice a guy for bailing them all out.
Chad Finneman really important to keep bailing them out ( how many times of a bail the we ask the to try another business because if you fail this time no bail
So let’s see....the government gives the banks billion dollars so they can loan it egregious rates. So the bank gets richer....? How about requiring banks to pay a better proportion of interest paid to depositors compared to loan rates. This is obscene.
Nope, you didn't win in that sense. You got to be #1 not by being better, but by buying the competition when they went south. Doesn't make you the best, just lucky enough to still be standing when the dust settled. Don't smile, you're not a hero.
Paving a Road to Damnation After that Comes Hell We're on Schedule I remember the Stickers that they put on paper work when we were in Elementary School, Terrific!, Great! Excellent!, and the Scratch and Sniff Stickers .
It's March 14, 2023 and just a few days ago we experienced the (Silicon Valley In CA) 2nd and (In NY) 3rd Largest Banks collapsing in History. And yet the FDIC had to step in to ensure consumers get their money and will be backed by the Treasury if they run out of funds to give the consumers their money up to 250K. Which leaves me to wonder 13 to 15 years ago when this video was made; did Bank of America pay back those funds in 3 to 5 years as he stated? Did they pay them back at all? Or did they take the 25 Million dollars received from the Federal Government to make loans to struggling consumers and small businesses, and just pad the pockets of more Executives. Becoming another situation where Main Street is robbed by Wall Street. This video is just another reminder that History repeats itself over and over again. He sounds like he was playing a game of Monopoly to include Bank of America with Merrill Lynce. I just shake my head and listen to this guy say whatever he thinks she wants to hear. 🤑 Until she asked the Multi-Million Dollar question. Do you think your job (salary) is in jeopardy. 😳 And for him to say he hadn't given it any thought let's us know he isn't concerned about feeding, clothing, housing, or providing for his family. 🤔 Because he has enough money set aside to pass along for generations to come. 🙄 That video has October 19, 2008 stamped as the date.
don't want to stigmatize the the banks that actually need help? that's exactly what should have happened. the bank surely stigmatizes customers who can't make good on their loans.
Chad Evert in the end, one of those banks is still standing, we don’t know which one. Idea is if general population found out, there would be a run on the bank and the would be further damage to the financial system and economy as a whole
@@jayclark3769 this is a distinction without a difference. a run on the bank is the public realizing the bank or financial system as a whole has f'd up. it's what should happen instead of kicking the can down the road. if someone doesn't pay their house note, the bank doesn't say here's some more money, now don't spend it all at once.
Beast from the East I lost my sons condo Bank of America foreclosed on me I was not behind in payments but my homeowners association dues were overdue so I sent them a check and they sent it back and they forfeited my my sons and mine condo that was supposed to be my retirement home I cried I did everything I could and everybody laughed at me and said no way that was Bank of America
This sounds like charlottes web bank; why won’t government have an oversite committee to make sure bailouts go to the proper consumers rather than raises for staff. Executive comp 9.56hr For bank failed again
There's a movie about this. I can't remember the name. The Banks are the problem not just the politicians. This will happen again, its only a matter of time.
BofA was the original “roll up “ king they barnstormed America and rolled up all these institutions and banked on the fact the tax payer would be the hedge of all hedges . Being small may not be attractive but being ethical is as good as gold and I don’t think they truly want to answer the question if the growth they obtained was ethical and in the best interest of shareholders of BofA . That’s my opinion
This guy is making $25M a year and still saying executives are making too much. Do you have any idea what I could do with $25M? The fact that you can make that kind of money and still not harness its potential speaks to the lackluster imagination and cleverness of the finance world.
The Lord the Lord in the king of King so he is coming for the evil Wicked and corrupt and they will be destroyed for all the things that they have done on this Earth and to God's people be on the lookout cuz he's coming soon to come that's why in the Bible he said men do the deed in darkness so you don't see the dirt that they doing that's why the Lord is on the horizon exposing everything and everybody he said what goes on in the dark must come to the light he says no more hidden things and no more secrets the Lord says enough is enough
Lewis is a liar. He was fronting $ for countrywides sub prime mortgages..whic is why they had to take on Countrywides loans. Bank of America then had its own servicing...and they were unbelieveably corrupt. Their accounting looked likea 10 year old was doing it. More than 10K in errors in my mortgage account. Disgusting.
A banker who doesn't like ultimatums, go figure. They can't handle what they love to dish out. Where's the law that state's a bank's loyalty to patriotism for country? Finally, Bank of America is at least half American and not 100% privately owned by foreign private investors. The primary owners are still the wealthiest Italian family in the world. Just like the Federal Reserve is not Federal, Bank of America is truly Banco dí Italia.
BofA is much better now that Ken Lewis is gone. His handling of Countrywide and Merrill Lynch were so bad it did significant damage to the bank, the associates, and the customers of the Bank for many years after. Brian Moynihan has done a much better job at handling the bank and has done a very admirable job of rebuilding the bank from the mortgage crisis. Just before the Mortgage crisis in August 2008 Bank of America stock price was around $54 per share. After the crash in January 2009 that same stock sold for less than $3.00 per share.
