OT rant: bank of America

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BA just cut my credit limits --- a lot.
The card I was carrying, thinking I had 5,000 or so available credit. They cut it to shaving distance from my balance. One day I tried to buy gas, but was declined.
Anyone else having a bit of grief from BA?
Christopher A. Young Learn more about Jesus www.lds.org .
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No, but then I haven't dealt with BA for about 10 years now. I thought they were crooked LONG before the melt down proved it.
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They were. Always have been dirtbags.
I quit the sonsabitches about 15 yrs ago when they told me I needed permission to withdraw money from my own savings acct. I had about $5-6K in it and wanted to withdraw about $2500 to buy a used car. I was told I needed the bank mgr's signature. Say what!? Fsck the bank manager! It's my $$$!! I closed all accts and withdrew every cent. Walked out with about $8-9K in my pocket. All banks suck the big one.
Oh! ...as for that credit card nonsense, it's not BofA. It's the card companies. They've been doing this back-stabbing crap for about the last 10 yrs. They have all of Congress in their pocket and they do what they pretty much damn well please with zero oversight or regulation. Hey, this is what all you Reagan lovers wanted! ....no regulation. Now you have it. How do you like it? ;)
nb
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vi --the heart of evil!

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I think your anger is misplaced. We don't want regulation. What we have gotten from B.O. is nothing but over regulation. Check out the Dodd-Frank bill passed in July 2010. You will find that burdensome over-regulation created by the esteemed 111th congress and our idiot-in-chief is costing financial institutions 100's of thousands of dollars annually in legal fees. Who do you think is going to pay for that? Certainly not Barry and Michelle.
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I suppose those same "financial institutions" didn't actually receive millions of dollars in bailouts for their inept handling of their own business which they are supposedly so adept at.

....and certainly not the financial institutions.
nb
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financial institutions were forced (regulated) to provide sub prime mortgages. They were not inept - congress was for forcing them.

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Apparently in some states regulation was good enough so that the housing collapse wasn't too bad there. Texas is an example. Where was it really bad? Las Vegas and FL, etc, where speculation/flipping etc were really rampant. There really, really is enough guilt/complicity/criminal mischief to give almost everyone and almost every institution a good helping.
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Han
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On 4/26/2012 8:24 AM, Han wrote:

You're confusing co-occurrence with causality. Texas has energy resources (natural gas and oil) which kept their overall economy and specifically their housing market relatively healthy over the past 4 years even when many of their other economic sectors declined a similar amount to the rest of the county. Nothing to do with regulation. It's the same reason Russia was able to stay financially afloat with far less pain than western Europe. By your analysis, you would expect Russia to be far less regulated than western Europe. In fact, it is much more regulated.
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wrote:

Texas Foreclosures Listings (Texas State Foreclosure Laws)
Foreclosures in Texas increased in 2009 over the prior year. There was a total of 100,045 properties with foreclosure filings. That works out to a rate of one filing for every 94 households, which compares to the United States average of 45, and is a little more than one percent of the state's housing units.
So, their foreclosures were almost twice the national average, but they weren't doing all that bad?
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Based on the numbers you give above, isn't the TX rate HALF the national rate?
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That seems right to me, trader. I have no time to search for the reference now (family emergency), but I distinctly recall having seen a proud Texan quote what I said.
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You're right, mea culpa. Trying to do math before coffee...
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Good grief, "flipping" was a symptom of the problem, not the problem. Regulation, or the lack of, had nothing to do with the differences between FL and TX.
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Don't just talk about it, do it!
http://wesleyanargus.com/2012/04/23/students-urge-divestment-from-bank-of-america /
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wrote:

Why are you telling me that? I have never had an account with those thieves. Though, if the OWS crowd is boycotting anyone, it's a good enough reason to do business with them.
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Texas had its real estate bust in the 80's. Like the more recent nationwide bust, it was driven by too much easy money. The savings and loan deregulation allowed them to make lots of junk loans. Folks went to jail.
But we didn't have the boom in prices that other areas did in the most recent debacle. I don't think state regulation had anything to do with it.
-- Doug
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Personally, I'd rather that banks and financial institutions pay a few hundred thousand $ more every year than to have the taxpayers bail them out at a cost of hundreds of billions.
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with the average voter. (Winston Churchill)
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On Thu, 26 Apr 2012 21:03:55 +0000 (UTC), snipped-for-privacy@sdf.lNoOnSePsAtMar.org (Larry W) wrote:

I totally agree that the bail outs are definitely wrong with a capital "W." My point is that the problem stems from over regulation of not only the financial institutions but virtually everything in this country. The less government involvement the better for everyone.
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Especially when the govt is pushing stuff like universal home ownership, universal health care, universal diversity, and, and and ......
Christopher A. Young Learn more about Jesus www.lds.org .

I totally agree that the bail outs are definitely wrong with a capital "W." My point is that the problem stems from over regulation of not only the financial institutions but virtually everything in this country. The less government involvement the better for everyone.
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lowering limits, etc., is the direct result of bills passed after the meltdown to "protect" thee and me from predatory practices. Whatever that means.
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