Oddly, we the people wound up making a helluva profit from bailing out US Bank. Because the bailout was in the form of stock with warrants, our Treasury earned dividends. By the time Treasury let US Bank buy back its stock eight months later we had earned $350 million off it. Ka-ching for us. http://projects.propublica.org/bailout/e…
The old WAPO/newChase Bank windows have been smashed at least twice in the last year. It's not as if the insurance premium is going to hurt them. Find a new ploy.
I don't know what these fuckups think they're accomplishing. For one thing, Insurance is going to pay for that. For another, branch banks don't make any of the policy decisions that affect us; that's all at HQ, and Seattle isn't home to any major banks anymore. So the big boys aren't going to see the damage or feel the "people's power," if that's what the fuckwit thinks he was demonstrating.
As a U.S. Bank customer, I have to say I've always found them to be quite fair in terms of their policies and practices; maybe that'll change, but for the moment at least they seem to be the least offensive of any of the major bank chains.
This got me thinking, maybe banks don't actually HAVE traditional insurance for this. The difference between banks and insurance companies are very minimal. Why wouldn't the CEO of a bank just make his own insurance company that covers his own banks? Certainly no lack of capital. Just a thought
@14, yeah, but it was a kid full of high spirits for whom the movement has so far provided only inchoate and generalized targets. I'm sorry he did it but not outraged, and hope he soon figures out what he's mad at more particularly.
And the bank was closed so the act didn't affect the hourly-wage, at-will workers who staff that branch. Although if the doors aren't repaired by Monday the bank may not open, which means they could lose a day's pay which will sting.
@3 Oooooooo!!! 350 *million*!!! Wow, gosh, that sounds like a gol-durn DEAL!
Except that the crash of 2008 wiped out hundreds of _billions_ of dollars, and that the US taxpayer subsidized bonuses of around $18 Billion. Not so much of a deal when you actually look at things in perspective, but thanks for playing.
@18, distinguishing between the banks that used better practices and the banks that used worse is the heart of the regulatory system whose resurgence the Occupy movement has rightly included among its goals. Why drown heartening details in the sea of misery? Isn't is useful to see where things worked out okay and why?
Sorry, bank and corporate hatred is so stupid .... very stupid. If you don't like it, go elsewhere .... it's hard to do that for some corporations thanks to laws preventing others from competing, but meh, put blame where blame is due.
@18, please before you go off get some facts. All major banks were ordered to take the TARP money and us bank put it in the bank to sit until they were allowed to pay it back (look it up) second US Bank didn't need the money because they only gave out the required (yes required by our government) number of risky loans to keep their FDIC insurance and were praised as a solid bank when everyone was panicing about the fall of banking. and last but not least (and i know i'm going to offend someone here) no one held a gun to peoples heads and told them take loans. i qualified for a 380K loan and didn't take it because i knew i was bairly paying my 120K loan people need to take the fault for their own actions and quit blaming everyone else. time to grow up kiddies.
http://projects.propublica.org/bailout/e…
Take that, evil money grubbers!
Anyway, look at what actually went down here to find the root cause. I blame Dick's.
Or hopped up on Dick's.
Obviously we need to ban Dick's, except the shakes and the fries, cause I love those.
And the bank was closed so the act didn't affect the hourly-wage, at-will workers who staff that branch. Although if the doors aren't repaired by Monday the bank may not open, which means they could lose a day's pay which will sting.
Of course, both still require either a minimum balance or an associated direct deposit to avoid a monthly fee.
Except that the crash of 2008 wiped out hundreds of _billions_ of dollars, and that the US taxpayer subsidized bonuses of around $18 Billion. Not so much of a deal when you actually look at things in perspective, but thanks for playing.