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Principles of Banking explained - 3/2/2012 9:15:34 AM

Fightdirecto

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Sometimes you just have to boil it down to the essentials...

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RE: Principles of Banking explained - 3/2/2012 10:07:20 AM

MrBukani

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http://www.guardian.co.uk/commentisfree/joris-luyendijk-banking-blog

This is a cool blog about what really happens in banking and how bankers think.

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RE: Principles of Banking explained - 3/2/2012 10:52:11 AM

DesideriScuri

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quote:

ORIGINAL: Fightdirecto

Sometimes you just have to boil it down to the essentials...

To be honest, that's the boiled down essentials of Central Banking the Federal Reserve way.

At least with normal banking, there is a chance you'll get an interest payment for keeping your money in their vaults.

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RE: Principles of Banking explained - 3/2/2012 12:09:47 PM

slvemike4u

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Interest ?
I thought that was something that banks charged you....at exorbitant rates,for lending you my neighbors money ?

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RE: Principles of Banking explained - 3/2/2012 12:11:00 PM

Musicmystery

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We don't have banking anymore.

What passes for banking today used to be called usury.

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RE: Principles of Banking explained - 3/2/2012 2:54:09 PM

kalikshama

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When I moved back to MA I got a BOA account and was shocked that the only way to have free checking was to maintain a $5,000 - $20,000 balance.

They are going to be testing new fee structures here but no details yet.

I found this quite funny:

http://bostonglobe.com/business/2012/03/02/bank-america-still-testing-new-checking-accounts/vhcvZg5p65HFbvZRiG8w2N/story.html

...Ralph Valente, spokesman for Rockland Trust, one of the largest community banks on the South Shore, said the bank typically sees an influx of customers attracted by its free checking products whenever Bank of America announces new fees.

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RE: Principles of Banking explained - 3/2/2012 4:39:26 PM

SoftBonds

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quote:

ORIGINAL: kalikshama

When I moved back to MA I got a BOA account

Big mistake!

Credit Unions > Local banks > regional banks > any bank but Wells Fargo and BofA> Wells Fargo and BofA

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RE: Principles of Banking explained - 3/2/2012 6:28:14 PM

kalikshama

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My father, who is in a different part of the state, asked me to get a BOA account, to make it easier for him to send money to my brother and mother. When it comes to money, I have learned to just roll my eyes and do things his way.

Otherwise, I might have chosen Rockland Trust, which my mother has and raves about.

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