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Old 03-19-2010, 11:48 PM
 
6,082 posts, read 6,020,574 times
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Since too many financial institutions are addicted to tax payer money like an addict is to crack, many people are saying, enough's enough.

"The BND's 90-year track record of prudent and profitable lending defuses another objection to state-owned banks: that a public agency cannot be trusted to act responsibly in managing public funds."

 
Old 03-19-2010, 11:50 PM
 
26,680 posts, read 28,614,069 times
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That may be fine for some people, but I'm happy using a major bank. I've tried smaller community banks in the past, but wasn't happy with them.
 
Old 03-19-2010, 11:52 PM
 
760 posts, read 1,268,407 times
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I've been hiding my money in my mattress for years.
 
Old 03-20-2010, 01:11 AM
 
19,226 posts, read 15,287,572 times
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Quote:
Originally Posted by JoeyPants View Post
I've been hiding my money in my mattress for years.
Then you probably have good physcal posture.
 
Old 09-27-2010, 08:56 PM
 
6,082 posts, read 6,020,574 times
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Another great video by Ellen on how to really reform our financial system.

 
Old 09-27-2010, 09:17 PM
 
Location: Great State of Texas
86,052 posts, read 84,288,091 times
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Multiple credit unions and multiple brokerage firms.
Don't put all your eggs in one basket.
And don't give business to the bailout banks.
 
Old 09-28-2010, 12:19 AM
 
Location: Fredericktown,Ohio
7,168 posts, read 5,352,714 times
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Quote:
Originally Posted by kovert View Post
Since too many financial institutions are addicted to tax payer money like an addict is to crack, many people are saying, enough's enough.

"The BND's 90-year track record of prudent and profitable lending defuses another objection to state-owned banks: that a public agency cannot be trusted to act responsibly in managing public funds."
This is a good idea that I wish would catch more fire with the people because it brings real change. It would have to beat us being the chumps of the banksters and bailing them out on their loses but never sharing in the profits. It would have to beat the banksters controling our leaders to the point they are just "usefull idiots".
As it is now there is really no recourse that we can take against the banksters when they have such control in DC. The smart alternative is a change of venue, and bring the banks into state{ not fed} control. It is closer to the people and gives them recourse, if the leaders need to be removed they can do it at the ballot box.
This is a good selling point:
Quote:
With the current state of our economy, every dollar counts, yet we're depositing our money in other people's pockets by investing in big corporate banks without seeing much lending in return. It's time for the Mitten State to lend itself a helping hand and establish a bank that is willing to invest in our small businesses and offer the financial support necessary to see job growth.
Lets see? should we give the money to Goldman Sach's and maybe get some return to our state, or should we bank in our state and invest interest payments in our state. It's a no brainer.
If all 50 states went this route we could defund the too big to fail and really have the banksters wailing and gnashing teeth. The states could become competive getting into re fi 's credit cards, etc etc. and all the while the money comes back and works for everyone.
 
Old 09-28-2010, 08:56 AM
 
Location: AZ
2,095 posts, read 3,795,813 times
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Quote:
Originally Posted by HappyTexan View Post
Multiple credit unions and multiple brokerage firms.
Don't put all your eggs in one basket.
And don't give business to the bailout banks.


I cannot understand why anyone would do business with a bank that has been bailed out,especially BOA! I've been using a small town bank for over 15 years for both personal and business. I just recently switched some CD's to a smaller credit union too for the reasons you stated,never put all your eggs in one basket.


Besides,there's still a record number of banks going under that you don't hear about on the news. All the want you to hear is that the recession ended last year!


http://endoftheamericandream.com/arc...ystem-is-dying


Quote:
So far in 2010, 127 U.S. banks have been shut down by federal regulators. That puts us on pace to far surpass the total of 140 U.S. banks that failed last year. And last year was the most bank failures that the U.S. had seen since back in 1992.
 
Old 09-28-2010, 09:13 AM
 
Location: Londonderry, NH
41,478 posts, read 59,638,996 times
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I started with a very local bank and through a series of bank sales and purchase have wound up keeping much of my operating money and my mortgage in a Canadian Bank - namely Toronto Dominion. At least they didn't need to be bailed out.

I support the idea of a State Bank because it is likelier to avoid the Ponzi schemes and rampant speculation that eventually destroys all involved. Maybe we should consider restructuring our Federal Banking system as well. Maybe we should replace the privately owned Federal Reserve System with a US Treasury owned Bank of the United States. As I do not really understand finances at that level this is a serious question.
 
Old 09-28-2010, 09:31 AM
 
10,854 posts, read 9,281,661 times
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Quote:
Originally Posted by GregW View Post
I started with a very local bank and through a series of bank sales and purchase have wound up keeping much of my operating money and my mortgage in a Canadian Bank - namely Toronto Dominion. At least they didn't need to be bailed out.

I support the idea of a State Bank because it is likelier to avoid the Ponzi schemes and rampant speculation that eventually destroys all involved. Maybe we should consider restructuring our Federal Banking system as well. Maybe we should replace the privately owned Federal Reserve System with a US Treasury owned Bank of the United States. As I do not really understand finances at that level this is a serious question.
The Federal Reserve is a entity of the United States Government. The structure of the Fed is designed to insulate it from the political bickering and rancor that pervades much of the federal government. The banks that have shares in the Federal Reserve System are mandated to buy those shares in order to have a federal banking charter. The banks provide capital to the Federal Reserve in exchange for shares. The shares DO NOT PROVIDE OWNERSHIP PRIVILEGES the same way that shares do in a private company. No bank or group of banks for example can vote to remove the chairmen of the Federal Reserve Board of any of its governors. That can only be done by the President.

It shocking how few Americans really understand the financial system or how the Federal Reserve system works. It's part of the what makes the United States the financial stalwart of the economic world despite the current economic recession. In fact the recession would have been much more severe without the fiscal policies instituted by the Federal Reserve. More people should study the economic and financial history of the United States. The system we have now is much better than anything we've ever had before and the economy is stronger for it.
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