Is anyone actually buying into this load of crap?

its funny that this topic came up as i was actually looking to get a loan from a bank today. this bank as many military know is mainly for service members. military are its primary users. anyways, navy federal credit union was the bank i was looking to get a loan from. I was asking for 15k to put my house in and get everything settled, after i saw what they were going to charge me for the payback i quickly changed my mind. i would have had to pay almost 22k back altogather. so they would have charged me 7k for borrowing 15k.

I'd keep cash out of banks. Who knows what will happen, after all...

I'd keep cash out of banks. Who knows what will happen, after all...

Thats a disgusting add arrogent in and of itself.
money is the root of all evil so my gnradmother used to say. she was right* everyone knows people will steal and kill to have it, lie too. that makes you a better citizen? especially since all those bailouts they greedily got and we got not a dime?
a better citizen indeed

I want the real friggin quotes from the fathers in their commercial:

"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the government at defiance. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
-Thomas Jefferson

"If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."
-Thomas Jefferson

Not a founder, but he's on the fin:

"The money powers prey upon the nation in times of peace and conspire against it in times of adversity. It is more despotic than a monarchy, more insolent than autocracy, and more selfish than bureaucracy. It denounces as public enemies, all who question its methods or throw light upon its crimes. I have two great enemies, the Southern Army in front of me and the Bankers in the rear. Of the two, the one at my rear is my greatest foe.. corporations have been enthroned and an era of corruption in high places will follow, and the money powers of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few, and the Republic is destroyed."
-Abraham Lincoln

Hey OP, you are totally right, this is a bunch of crap. Banks are the worst institutions out there. I've lost money because of bank errors. F the banks. I no longer have a bank account, and plan to keep it that way for as long as humanly possible. I cash my pay checks at wal mart. (lesser of the two evils) then use money orders for bills. Ya Im old fasion but its way less hassal, then I dont have to worry about fees and someone elses errors. Like I always say Cash is King, and I would rather spend all of my hard earned money than most of it.. And as far as this bogus ad is concerned. There is nothing about banking that makes you more of a citizen, or better patriot............SCREW THE BANKS!!!!!!!!!!!!!!!!!!

We, the citizens of this country, must do something to combat this evil known as the central banking / federal reserve.

As the one quote suggests..

"If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."
-Thomas Jefferson

we will indeed be without pursuit of happiness, home, transportation, liberty, and which will lead to life.

Going to work every day, for most, is not the pursuit of happiness, unless of course, you are one of few who enjoys their job.

Between Banks, fake money, Big Government, lies from corporations, and the whole plethora of other evils we suffer on a daily basis, we are doomed, slaves, lambs being led to a collar.

TPTB are using our energy, our life, to make their lives better.

It must be stopped!

Wow, lots of totally ridiculous and juvenile hatred towards banks in this thread. Pretty immature and unwarranted if you ask me.

First, the numero uno reason why our economy is in the shape that it is in is due to mortgage fraud, committed by fraudulent mortgage brokers and speculative real estate investors.

Remember Ameriquest Mortgage? A sub-prime predatory mortgage broker? How about Rock Financial with their "Interest-Only" mortgage advertisements plastered all over the radio and TV? What about Countrywide, or my favorite, Taylor, Bean & Whitaker?

All of these mortgage firms were brokers, not banks. Big difference. And they are the root cause of this collapse in our real estate markets.

Who got defrauded? Your average retail Main Street bank. Banks got royally screwed over by fraudulent mortgage brokers and criminal borrowers that lied on their loan applications and left the bank holding the bag at foreclosure.

Now banks hold thousands of foreclosed properties worth literally 50-60% of what they originally funded at the time of closing. Banks got totally screwed over. Hence, the FDIC is closing banks every Friday in an unprecedented fashion.

(The FDIC is not funded by taxpayer money, by the way, just to clear up that misconception. The FDIC is funded by yearly bank assessments - meaning banks fund the FDIC, not taxpayers.)

Albeit, some foreclosure are legitimate where a borrower is in true distress due to a loss of income or employment or a medical condition - Most of the foreclosures, however, are from rampant real estate speculation where greedy investors and greedy borrowers were trying to make a quick buck riding the wave of cheap money and a rising real estate market.

These are the real criminals - Not the banks. Banks got totally screwed over by these criminal sub-prime mortgage brokers, and fraudulent borrowers.

Banks should have known better? Yes and no. Some of the mortgage fraud was pretty sophisticated. Banks contractually rely on mortgage brokers to submit legitimate loan applications. Unfortunately, many of these mortgage brokers falsified loan applications, inflating income and submitting totally bogus credit reports.

Sub-prime mortgage brokers, House flippers, real estate speculators, home builders - all were responsible for this real estate frenzy. They borrowed like crazy during the boom years, then screwed over the banks by defaulting on their loan obligations.

Bailout? Most of the TARP funds have been repaid. So the argument about taking "taxpayer money" is a moot issue. Banks repaid the taxpayer the TARP funds with interest to the tune of billions of dollars. The taxpayer was handsomely repaid for the TARP program.

Complaining about interest rates, eh? Hmmm. Interest rates are the lowest they have been in decades. They are at historical lows.

Perhaps you want to rewind back to the Carter years when home mortgages were at 17% interest rates?

I can also assure you that banks have significant assets - stocks, real estate, land, equipment, reserve cash, etc. They operate as a business, just like any other company. This whole notion that they "create money out of thin air" is total nonsense floating around the Internet in these goofy videos.

Just look at the balance sheet of any publicly traded bank. Banks carry significant deposits to lend against without having to borrow from the Federal Reserve system. Banks have assets - significant assets.

Here's my analogy:

If it costs Ford Motor Company $15,000 to manufacture a car, and it sells that same car for $20,000 to a consumer, did Ford Motor "create $5,000 out of thin air"? No, I didn't think so.

It's called profit. Banks are no different. If they lend you $200,000, they expect to earn interest on that money. Interest earned is profit to a bank for the risk that they are taken in the event you skip town and default, which is all too common nowadays.

And, if you don't like the interest rate, go ahead and pay the loan off before its maturity date. Instead of taking 30 years to repay your mortgage, pay it off in 5 or even 10 years and save yourself all that interest. Your choice.

And, what happens if you default? The bank has the oh so pleasant task of foreclosing on your house (a very costly and time-consuming process, and oh so terrific for public relations - NOT). In today's market, a house worth $200,000 5 years ago is not even worth $125,000 nowadays.

The bank gets to take a $75,000 loss plus all of the ancillary expenses associated with foreclosure. The bank is left holding the bag. Can they sue the borrower for the difference? No, because the borrower lied on his loan application, lying about his income and net worth. He doesn't have any money or assets to repay, either. And, because mortgage fraud is an epidemic, the police don't have the resources to pursue the fraudulent borrower that lied on his loan application.

But, go ahead. Blame the banks. You're right.

I like the commercial implies that everyone has to pay back their loans with money that they work and sweat for to the banks that get printed money via bailouts or else growth and prosperity ceases to exist.

If "good banking" is good citizenship, what is bad banking? Bad citizenship?

Isn't bad citizenship criminal?

Does that mean that people who are strategically defaulting (a big concern for the banking industry) are a bunch or criminals?

Does that mean that people who can't pay back their loans are bad citizens and at fault for the lack of growth and prosperity going on int he U.S. economy?

Or.....

Doesn't receiving tax payer bailouts equate to bad banking and therefore bad citizenship?

This commercial is very revealing and shows the mounting concern within the banking industry. More people are sticking their middle fingers at banks and loan agreements which means a loss of power.

And whats with the founding father thing, weren't many of them suspicious of banking?

reply to post by davidgrouchy


welcome to the world of marketing.

Originally posted by FortAnthem
I've been seeing this disgusting TV ad from Citizen's Bank trying to pass off supporting the banks as our patriotic duty or something. Their new slogan is "Good banking is good citizenship".

I love the part where they say, "my savings are another person's mortgage".

They completely fail to mention that your savings make about a half a percent interest if you're lucky, while they charge about 10 times that much interest for the money they borrow out.

Not to mention the fact that, thanks to fractional reserve banking, they get to loan out 10 times more money than they actually have in those savings accounts. They're charging people massive interest to loan them money that they don't even have, that they created out of thin air.

Then they have the gall to pass this whole criminal enterprise off on us as somehow patriotic and wholesome as apple pie. If you believe all of the bull spouted in this ad, you would think that banking was the cornerstone of the American republic.

[edit on 5/14/10 by FortAnthem]

The propaganda is increasing. I guess they know eventually this game is going to fail and they need all the people NOT to run to the bank to pull their money out. But what the govt. should still know and Gomez from Kill Bill Vol.2 (the strip club owner) knows is that "F***ing with your cash is the only you understand". When a person can't do this or that because they have no money and/or the money they do have has lost it's value, people will get mean.

hahahhaha these banksters must believe the american people are a bunch of stupid, clueless morans......they cannot be serious with this ad... Great post!!

I tryed to write an e-mail to give them a piece of my mind and there is no way to get ahold of them...No "contact us" link..
FAIL!!!!!!!!!!!!!!

Does that mean that people who are strategically defaulting (a big concern for the banking industry) are a bunch or criminals?

Depends on your definition of "strategic defaulting".

If, by strategic default, you mean that someone claims hardship when, in fact, they have significant assets (liquid cash, real estate, etc.), then, yes, it would be criminal to default. If you deliberately lie about your financial condition on a signed and notarized Affidavit of Financial Condition, then that is most definitely a criminal offense.

I would even go so far to say that this is more than criminal - It's pure evil. A greedy borrower buys a speculative real estate property for the purpose of flipping the house for a quick profit. He gets a loan from the bank. When the real estate market sours, does the speculator get to pass his losses onto the bank by defaulting on his mortgage loan - even if he really has the capacity to repay? Why should the bank - really, the shareholders of the bank - be forced to take such a loss?

It's almost like people want to play this game - As long as I make a profit, great. But if I have to take a loss, blame the bank. Screw the bank.

If, by strategic default, you mean that someone legitimately claims hardship due to a loss in income, or a medical reason (heart attack, etc.), and they cannot legitimately repay, then no, that is not criminal. That's true hardship.


[edit on 14-5-2010 by CookieMonster09]

reply to post by FortAnthem


The commercial says our country was founded on citizenship. But a citizen didn't come into existence until after the civil war. A citizen is a corporate entity of the corporate USA. Their history is jacked up. BTW. I don't use banks so I don't have yall's problem.

reply to post by davidgrouchy


Is this a rhetorical question? My opinion is that it was staged by an advertising agency.
Or maybe that is obvious to all.

Jeez, what do you guys want? Banks to stop lending? No more small business loans, no more student loans, no more car loans, no more mortgages. This thread is ridiculous. Yeah, lets shut down the entire economy and go to an all cash system.

FYI, The going rate for a 1 year CD around here is 1.25-1.5%. A 5 year car loan is going for around 3.5% to 4%. OMG, banks ripping us off!!! I get a kick out of the perception that banks are gouging everyone. Your average Joe has an average balance of a few hundred bucks and in return gets free checks, a free debit card system at every place he shops, a huge ATM network that provides instant access to cash on every corner, brick and mortar locations across the nation with a full staff to tend to all his needs, a free online access system, full protection against any fraud, etc..............And he pays nothing, nada, zilch. All free.

Originally posted by slt63366
Jeez, what do you guys want? Banks to stop lending? No more small business loans, no more student loans, no more car loans, no more mortgages. This thread is ridiculous. Yeah, lets shut down the entire economy and go to an all cash system.

FYI, The going rate for a 1 year CD around here is 1.25-1.5%. A 5 year car loan is going for around 3.5% to 4%. OMG, banks ripping us off!!! I get a kick out of the perception that banks are gouging everyone. Your average Joe has an average balance of a few hundred bucks and in return gets free checks, a free debit card system at every place he shops, a huge ATM network that provides instant access to cash on every corner, brick and mortar locations across the nation with a full staff to tend to all his needs, a free online access system, full protection against any fraud, etc..............And he pays nothing, nada, zilch. All free.

Lets circle the wagons then while were at it...just lay down and let the banks run rough shot all over people. If you want to supprt this bank go right ahead your choice no one stopping you. As for the myself I closed all my BOA accounts business and personal switched to a very small credit union I drive 20 minute out of my way to do mu banking. But I know where my money is and I know all my bankers by name first and last. they know me by name when I walk in. And if they get bought out I will switch again,and again,and again if I have to.

reply to post by FortAnthem


I remember when the Banking Institutions were well respected and trustworthy, but that was a long time ago. Today all they are is a pack of Liars and Thieves, and I mean at every level. Beside figuring out how best to hose the customer without them knowing it, look what interest they pay you on a lousy savings account, and then look what they charge you on any loan. I just love what they do to these poor guys who screw up their checking accounts and bounce a check, I think my bank is up to 38-40 bucks now, like it's really costing them big bucks, hell their computerized and automated, does it really cost that much to do a digital entry...lol

Use a local Credit Union, they're less apt to put the Big Pipe to you.

Originally posted by FritosBBQTwist
Fractional reserve banking is not bad - while it can fluctuate, we are much better off through this process than before.

It allows people to continue working their jobs while there is not an instant demand for the good they produce.

Example?

Homes.

If people had to save money up before they could buy one, then the demand would just fall through the roof, and our country would be filled with apartments.

It might seem that that will be the initial reaction, but... if fractional reserve banking were not permitted to exist but instead credit was created interest-free via public banking, then the parasites who profit off of the public's need for credit would have to get real jobs, people would be saved large sums of interest, the need for credit would be provided, and the owners of banks wouldn't be able to do this 1 very important thing:

Take your collateral for the cost of computer hard drive space or a little ink. Foreclosure is theft, because the bank took very little risk creating that money for you. Why do they get to create money out of thin air, but we have to get money the hard way??


Before banking became so parasitic on the economy, there were times when people actually DID save enough for large purchases like cars and homes. It was possible because everyone wasn't on the compound interest hamster wheel. Add to that fact that equity and savings from previous generations was passed on, which made that new purchase easier. Today all we pass on to the next generation is debt.