Bank Of New York

[galt11]

I thought I would pass on my experience with the BNY as they transfer over to being owned by JP Morgan Chase. I went into one of the local branches to find out if my free checking for life would be carried over to the new ownership, since the paperwork mailed to me by Chase said I would now be charged $6 a month as a fee. When I spoke with one of the "Desk people", read not a teller, she tried looking the info up on the computer but was having all sorts of problems. Since she was getting nowhere, she offered to find the info out and call me later, which I was fine with. Next she started asking about my current employment and would I ever think of working in banking. I told her I currently have a job but if I didn't I would think about it at another time. That afternoon I finally got a call from her saying the account would be grandfathered in but also wanting to know what she could put down for a past work history!!! Now tonight, I get a phone call from Chase Manhattan HR department looking to complete my application for employment. What a bunch of Cr@#(p the BNY has turned into. They can't answer your questions but this dumb woman can try to earn herself some commission buy referring people on your time. I have already opened an account at TD banknorth and will now be moving all my money to there. I would warn anyone who has a BNY account to consider doing the same. Things are going to go downhill very fast I think.

Adam

[Chills1994]

The Bank of America credit card to illegals thing earlier this week.

And now the BNY pulling shadey stuff like that.

Well....it all smacks of .....mn....nn...of the banking and financial situation in the US prior to the big Wall Street Crash in 1929.

Mnn...when is there going to be a run on the banks?

FDIC is only good for $100K per account, is that right?

I better get to the bank then. DOH!! (Living Trust stuff)

[SiG Lady]

My blood is still boiling over the B of A credit card thing..... GAHHHHHH!!!!!

[Front Man]

If there was no debt there would be no money.

If everyone paid off their debts there would be no money circulating

When everyone is buried to there eyeballs with debt there is a need for new people to go into debt to grow the "economy".

I remember the 1963 day my parents told me the evil of leaving the gold standard.

I would have been seven years old and I remember it like it was yesterday.

FM

[ipscbob]

FDIC is only good for $100K per account, is that right?

Depends on the number of cosigners on the account. Since my wife and I are cosigners, we are covered for 200K.

[raz-0]

If there was no debt there would be no money.

If everyone paid off their debts there would be no money circulating

When everyone is buried to there eyeballs with debt there is a need for new people to go into debt to grow the "economy".

I remember the 1963 day my parents told me the evil of leaving the gold standard.

I would have been seven years old and I remember it like it was yesterday.

FM

Pretty much covers it, You need debt to increase the money supply. The Id-less credit card just opens up the legitimate economy to the underground economy more rather than restricting it to cash. Not jsut illegals.

On the upside it allows growth of the economy without being constrained to the honestly employed person's total debt load.

On the downside, you are talking about REALLY unsecured credit which is a ticking timebomb regulated by banking institutions' "good judgement."