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UBS. news item. The Big Banks everywhere are dirty.
I'm shocked. Simply shocked. Who would have thought?
Anybody ever try deciphering the fine print in the mortgage documents they were about to sign?
Geez. I know folks who got hooked into “no prepayment” clauses or excessive fees if they wanted to pay off early. Than there’s the ol’ additional .25% increase in the rate that often occurs between quoted rate and what’s on paper a week later. What often gets me is a clause, which they haven’t disclosed prior to signing, that if FEMA ever reclassifies my area as a designated “flood zone” I’d be required to take on some really expensive added flood insurance. That was a near show-stopper last time around, as a small creek traverses my property. Ahh … finally proceeded. No changes to date. And a 3% mortgage is sweet.
"Get real." [I disapprove of your comment] very much, @Old_Joe.
Did you really think I'm so naive? Get real.
The system we live with (and under) is capitalism. Greedy, conscience-less capitalism. Where anything you can get away with in order to make a buck is ok. Just don't get caught. If you have to bury the tools of your ill-gotten gains in the fine print, go ahead. No one will stop you. Least of all, government--- which is SUPPOSED TO protect the interests of the public, so people don't get screwed the way they so often do. But governments everywhere are "captured," in the sense of "regulatory capture," to borrow Noam Chomsky's phrase. The ones who are supposed to tell the Robber Barons, "No, you can't do that" are in fact in the Robber Barons' pocket.
Which is why people take it in the shorts, just the way @hank mentioned in the post just above your latest, here.
Curious if @Crashowns any banks? Directly or through funds?
Pogo …
Yes, I own BHB. (And others, surely, through mutual funds. But I can't control every decision that the Fund Managers make.)
BHB is surely not among the Big Bank Bankster criminal doinks who "drilled" us and drove the economy off a cliff in the GFC of '08-'09.
As I've mentioned repeatedly: I will not touch the Too Big To Fail behemoths, which are CONSTANTLY being caught in money laundering or screwing consumers or not operating according to regulations and opening accounts that customers never asked for. And on and on and on and on and on.
Yes, Pogo. We have met the enemy, and he is us. Plural. The voting public is too stupid to remove the elected nitwits who will not stand up to the criminal Bankster suck-holes.
Well … Folks studiously avoid owning companies they think damage the environment or owning funds that invest in tobacco companies. ISTM one might do the same with banks if they felt strongly that they were making money off the practices of “filthy, sweaty, greedy, monstrously (dirty)” businesses.
Well … Folks astutely avoid owning companies they think damage the environment or owning funds that invest in tobacco companies. ISTM one might do the same with banks if they felt strongly that they were making money off the practices of “filthy, sweaty, greedy, monstrously (dirty)” businesses.
I don't bet I need to teach YOU to make some adroit DISTINCTIONS, @hank.
@Crash- While disregarding your rather uncivil suggestion, I note that you didn't answer any of my questions.
FACT: Ever since commercial trading began this type of conduct has been part of the action.
QUESTION: What's so different about "capitalism" ??
If you believe that greedy, conscience-less commercial conduct is something relatively new, or confined to capitalism, then yes, you may be uninformed, naive, or perhaps less than "real".
@Old_Joe. I did answer you. Read it more carefully. Did I assert that capitalism is unique when it comes to the greed factor and all of the underhanded bullshit that goes on? Nope. Still, it IS the system WE have to live with.
No more verbal volleyball about this with you, now. Move on.
Comments
Tangled web. J. Epstein.
https://www.cnbc.com/2023/08/15/jeffrey-epstein-referred-obama-white-house-counsel-to-jpmorgan.html
Geez. I know folks who got hooked into “no prepayment” clauses or excessive fees if they wanted to pay off early. Than there’s the ol’ additional .25% increase in the rate that often occurs between quoted rate and what’s on paper a week later. What often gets me is a clause, which they haven’t disclosed prior to signing, that if FEMA ever reclassifies my area as a designated “flood zone” I’d be required to take on some really expensive added flood insurance. That was a near show-stopper last time around, as a small creek traverses my property. Ahh … finally proceeded. No changes to date. And a 3% mortgage is sweet.
Do you really think that in today's world non-capitalistic financial systems don't do this stuff?
Do you really think that the early Genoese and Venetian traders never did this stuff?
Do you really think that all of the European and Mediterranean trading empires didn't do this stuff?
Do you really think that whatever trading occurred before all of those guys didn't do this stuff?
Do you really think that since mankind first traded flint arrowheads, seashells or whatever those guys didn't do this stuff?
Get real.
Pogo - We have met the enemy …
[I disapprove of your comment] very much, @Old_Joe.
Did you really think I'm so naive? Get real.
The system we live with (and under) is capitalism. Greedy, conscience-less capitalism. Where anything you can get away with in order to make a buck is ok. Just don't get caught. If you have to bury the tools of your ill-gotten gains in the fine print, go ahead. No one will stop you. Least of all, government--- which is SUPPOSED TO protect the interests of the public, so people don't get screwed the way they so often do. But governments everywhere are "captured," in the sense of "regulatory capture," to borrow Noam Chomsky's phrase. The ones who are supposed to tell the Robber Barons, "No, you can't do that" are in fact in the Robber Barons' pocket.
Which is why people take it in the shorts, just the way @hank mentioned in the post just above your latest, here.
BHB is surely not among the Big Bank Bankster criminal doinks who "drilled" us and drove the economy off a cliff in the GFC of '08-'09.
As I've mentioned repeatedly: I will not touch the Too Big To Fail behemoths, which are CONSTANTLY being caught in money laundering or screwing consumers or not operating according to regulations and opening accounts that customers never asked for. And on and on and on and on and on.
Yes, Pogo. We have met the enemy, and he is us. Plural. The voting public is too stupid to remove the elected nitwits who will not stand up to the criminal Bankster suck-holes.
FACT: Ever since commercial trading began this type of conduct has been part of the action.
QUESTION: What's so different about "capitalism" ??
If you believe that greedy, conscience-less commercial conduct is something relatively new, or confined to capitalism, then yes, you may be uninformed, naive, or perhaps less than "real".
I did answer you. Read it more carefully. Did I assert that capitalism is unique when it comes to the greed factor and all of the underhanded bullshit that goes on? Nope. Still, it IS the system WE have to live with.
No more verbal volleyball about this with you, now. Move on.
https://www.cnbc.com/2023/08/25/wells-fargo-repays-clients-40-million-for-investment-advice-fees.html