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The problem is that the only thing TARP is good at motivating banks to do is get the hell out of TARP so they can get back to taking outrageous risks, now even

by seldo 17y ago

The problem is that the only thing TARP is good at motivating banks to do is get the hell out of TARP so they can get back to taking outrageous risks, now even safer in the knowledge that if it all goes south the US taxpayer will bail them out rather than destroy the economy. The banks should not be allowed to leave TARP. As long as these banks continue to enjoy an implicit government guarantee, the government should maintain its stake, and its say, in the running of those banks. If they want to stop being under the control of the government, they need to split themselves into entities that are Small Enough To Fail.

patio11 17y ago
Banks should be Small Enough To Fail. They should also have compliance divisions the size of entire corporations. They should charge reasonable rates of interest. They should also offer money to good customers for free. They need to stop charging so many late and overdraft fees. They should offer free checking. They should revise any policy which has a disparate impact on minorities. They should stop giving out risky mortgages to people who are going to default on them. They should stop relying so much on impersonal credit scoring and have more humans in the loop. They should return credit decisions in under a minute at 3 AM in the morning. They should have customer service employees who speak proper English and can actually help with issues. They should be glad to get a phone call from a $100 a year account at 3 AM in the morning. They should do more to protect customers from fraud. They should stop freezing the accounts of perfectly innocent people. I am so glad I am not a bank.
- BearOfNH 17y ago
  It took a while, but I finally detected the sarcasm above. I am not making this up: Just yesterday I went to reorder checks on-line, and got told "FAIL" and to contact my bank. So I called the main branch in this state and a human being answered. I told her my tale and she said she could help me right then, which she did. Are banks again serving (as opposed to "servicing") their customers?

by seldo 17y ago

patio11 17y ago

Banks should be Small Enough To Fail. They should also have compliance divisions the size of entire corporations. They should charge reasonable rates of interest. They should also offer money to good customers for free. They need to stop charging so many late and overdraft fees. They should offer free checking. They should revise any policy which has a disparate impact on minorities. They should stop giving out risky mortgages to people who are going to default on them. They should stop relying so much on impersonal credit scoring and have more humans in the loop. They should return credit decisions in under a minute at 3 AM in the morning. They should have customer service employees who speak proper English and can actually help with issues. They should be glad to get a phone call from a $100 a year account at 3 AM in the morning. They should do more to protect customers from fraud. They should stop freezing the accounts of perfectly innocent people. I am so glad I am not a bank.

BearOfNH 17y ago
It took a while, but I finally detected the sarcasm above. I am not making this up: Just yesterday I went to reorder checks on-line, and got told "FAIL" and to contact my bank. So I called the main branch in this state and a human being answered. I told her my tale and she said she could help me right then, which she did. Are banks again serving (as opposed to "servicing") their customers?