Vincent Fernando

Bank Overdraft Brouhaha: Why Can't People Take Responsibility for Themselves?

Steve: I am a big fan of one of your comments above, I quoted it on ym site. "And while I'm at it, I thought the following Seeking Alpha comment was a pretty concise bank fee management recommendation. "Steve in Greensboro", in response to people decrying overdraft fees: "Here is a personal financial planning tip. Here is how I avoid overdrawing my checking account. I do not write checks for more than I have in my bank account. It works for me.""
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Bank Overdraft Brouhaha: Why Can't People Take Responsibility for Themselves?

dcb, see my response above. I was against the bailout. But to say they don't provide any value is to misunderstand how the economy works and all the services they provide. The fact that Google was able to grow so fast and take over the world within just a few years was due to the US capital markets. In most other countries, a good idea like google would have taken ages to get enough financing, and by then its competitors would have built themselves up. Thats just one example. I think if you truly don't think banks provide value then stop using them.

Bank Overdraft Brouhaha: Why Can't People Take Responsibility for Themselves?

In response to Davewmart, I think you raise a point I agree with. A lot of the anger towards banks could have been avoided by not bailing them out. The taxpayer bailed them out and then suddenly can pick them apart and get angry about salaries, practices, etc. Had they not bailed them out then one of the biggest arguments against them (they used taxpayer money) wouldn't to create the current witchhunt atmoshphere wouldn't exist.