Letters to the Editor

Your views in 200 words or less

Tag: banks

Jan.
24th

BANKS: What’s going on isn’t very clear

Re: “Customers now treated like crooks” (letter, 1-24).

The writer might be interested in an article in The Atlantic’s January-February issue, “What’s Inside America’s Banks?” In it we learn about much more activity than lending. It seems that “trading” appears to be the main business of big, respected, American banks in recent years.

Are they making money at this? Who knows? They don’t – at least their annual reports don’t convey that. According to the article, ” . . . most people do not read past the introduction. In the pages that follow, the sunny faces of satisfied customers

Read more »

Jan.
16th

MORTGAGES: Customers now treated like crooks

What did we, the consumers, do to deserve the treatment we now receive from mortgage companies? How is it that they can now require us to prove where every deposit greater than $100 came from? How can they use words “money laundering” when asking about deposits?

Unless I have lost my mind or my memory is gone, it seems to me it was the banks and the mortgage companies that came up with off-the-wall loans whereby anyone with any sign of life could qualify. We, as consumers, didn’t do this. We went to apply for a mortgage and all was

Read more »

Oct.
15th

BANKS: Lenders making out like bandits

Re: “Profits soar at 2 largest mortgage lenders” (TNT, 10-13).

This article was tempered with information about the big banks’ tax write-offs, considering their predatory behavior led to the collapse of the housing market.

The bankers knew the risk involved with ARM loans, questionable second mortgages and easily available equity credit. To protect themselves, the banks bundled the loans and sold them to unsuspecting investors, making a profit on top of the home loans.

When the economy collapsed, the banks claimed they were on the brink of insolvency and turned to the federal government for help. The taxpayers were

Read more »

Nov.
10th

BANKS: Individuals must be accountable

Re: “Wells Fargo agrees to pay $37M in bid-rigging case” (TNT, 11-8).

I am as much a free market capitalist as the next guy, but when banks are caught bid rigging it’s not just the corporation that should be held to account. Let’s put someone in jail. Let’s strip some executive’s personal (not just corporate/shareholder) assets.

In short, let’s demand some personal accountability.

We will not get any behavioral change within banks (or any other public/private entity for that matter) until we clearly hold individuals responsible their bad acts by materially changing their lifestyle when found out.

Nov.
4th

CRIME: Suggestion for decreasing ATM theft

I have read several articles lately regarding thieves stealing ATM access codes and passwords to ATM accounts by using cameras and code recorders.

Rather than try to educate the public about what to look for on the ATM machine, I suggest that every bank train one or more bank employee about what to look for on the ATM machine and have a trained employee check the machine at least once daily and preferably more often for unauthorized attachments on the ATM.

At the start of the business day would be a good time for this. Just stepping outside the door

Read more »

May
19th

BANKS: Support ‘return to prudent banking’ bill

Budget cuts and more budget cuts! Are we living so high off the hog that the greatest good is the greatest cut? Do Medicare and Medicaid have to be shredded as Obama and the Republicans compete over who can wield the biggest chain saw?

The answer is no! The solution is HR 1489, otherwise known as the “return to prudent banking bill,” also known as the return to Glass-Steagall.

Obama and the leadership of both parties have only one agenda: Bail out the banks. That is why budget cuts will accelerate at the national and state level until either the

Read more »