Stupid World

Articles have circulated throughout the media today stating that banks will surely lose atleast 1/3 of their profits if the newly proposed regulations are enforced. Boo-Hoo! I truly hope these banks don't expect any feelings of sadness from me. They took all their risky moves with our money investing in crap funds, high risk loans, charging fees left and right for overdrafts they MAKE you have by the way they nightly put your transactions through largest to smallest, charging on average $38 per overdraft. I've had enough of banks. I would close all my accounts personally if I didn't need them as my check cashing system.

I personally live all cash, I don't have credit cards, don't use my debit card (over fears of their overdraft fees) I merely use them for direct deposit and leave enough money in there to pay my bills, nothing else. Do they realize that it is their crappy policies and practices that makes me withdraw all my money every pay day? Maybe if they weren't riddle with such bad practices, others like me would keep their cash in their banks atleast giving them larger cash in deposits staying in the banks.

I am sick of corporate America looking for pity when we finally start regulating them and paying more attention to their bad behavior all these years.  Then when they get caught, they begin their scare tactics; "No more free checking accounts", "Banks will go under without their fees", "Fees will increase overall" PLEASE! I am so sick and tired of eevryone always throwing out  these annoying scare tactics. Why is it they never consider restructuring THEIR business plans? When you are relying on the lowest 10% income bracket of your members to pay 85% of your fees with overdraft charges, its just criminal! They claim that banks clear your checks highest to lowest every night to help US. So that we won't bounce our mortgage/rent, car payments etc. Personally, I don't know what mortgage company takes debit cards, but even if they did, this type of thinking is outrageous. By clearing transactions highest to lowerest, your playing the numbers game hoping the big checks may drain the account balance, and then the multiple smaller amounts will all bounce increasing the number of overdraft charges you can hit us with, pure and simple.

Do they really think we are going to believe our banks are working in OUR best interest? Wow! I hope the day will soon be here that we can all have the choice to opt out of their automatic payment plans and allow them to once again just stop paying people when the bank account is empty. Seems like a simple enough idea, and that is how it used to be but now its not even an option.  This is a nice first step in getting rid of the corporate greed, but sadly there are many more reforms needed. Let's hope they keep coming!

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