Bank of America

[hydrotech]

Investment banking houses and the insurance companies and corporations they are tied to run this country. They fund both parties so every politician is already in thier pockets. what can we do? Stop using big banks and give your busniness to credit unions and small town local branches in my opinion.

[bwaites]

Investment banking houses and the insurance companies and corporations they are tied to run this country. They fund both parties so every politician is already in thier pockets. what can we do? Stop using big banks and give your busniness to credit unions and small town local branches in my opinion.

This....But most of the locals are tightly tied to bigger regional banks. I have switched to a small regional bank, and to the local Credit Union for almost everything.

[LRRPF52]

Credit Unions, but they are still beholden to the major card carriers like Chase (JP Morgan), Visa, American Express, etc. JP Morgan is one of the bankers who was acting as a front man for European banks during his glory days. The Creature From Jekyll Island exposes a lot of his behind-the-scenes dealings to paint a better picture of the economic forces of that era.

In Utah, we have actually started looking at Gold & Silver-backed transactions, as have a few other States like Virginia. State legislators are passing bills to ensure that State assets and private businesses will be valued on things not necessarily tied to the dollar, since D.C. is devaluing the dollar like it's fun.

[Variable]

Credit Unions, but they are still beholden to the major card carriers like Chase (JP Morgan), Visa, American Express, etc. JP Morgan is one of the bankers who was acting as a front man for European banks during his glory days. The Creature From Jekyll Island exposes a lot of his behind-the-scenes dealings to paint a better picture of the economic forces of that era.

In Utah, we have actually started looking at Gold & Silver-backed transactions, as have a few other States like Virginia. State legislators are passing bills to ensure that State assets and private businesses will be valued on things not necessarily tied to the dollar, since D.C. is devaluing the dollar like it's fun.

Your state did even better than just looking at gold and silver, your Governer just signed HB157 and legalized gold and silver for by weight transactions. http://civsourceonline.com/2012/04/19/ut...ies-in-us/

We need that nationwide. The clowns in government can't print gold or silver!

[txgunner00]

Of course you can always stock pile the components <grin>..

As far as my banking goes, I am dropping BoA just as soon as I can, and buy me another McMillan stock or something.. I worked with Kelly McMillan on rec.guns back in the mid 90's, and he is a real good guy.. Got into pleny of arguments with Gale though.. You see he is a Rem 700 guy, and back then I was a pre-64 Win 70 guy <vbg>.. flk k

When you do cancel them make sure they know exactly why.

[txgunner00]

Your state did even better than just looking at gold and silver, your Governer just signed HB157 and legalized gold and silver for by weight transactions. http://civsourceonline.com/2012/04/19/ut...ies-in-us/

We need that nationwide. The clowns in government can't print gold or silver!

That's exactly why the govt. made it illegal to own at one time.

[hydrotech]

plese enlighten me on how credit unions and small town banks are tied to Morgan, warburg, lehmen and roth banks from jekyl island fame? I thought they were all good local ways to invest and use money keeping it out of the big banks hands. I would like to get some knowledge on using my money in a way that does not benefit them at all.

[bwaites]

plese enlighten me on how credit unions and small town banks are tied to Morgan, warburg, lehmen and roth banks from jekyl island fame? I thought they were all good local ways to invest and use money keeping it out of the big banks hands. I would like to get some knowledge on using my money in a way that does not benefit them at all.

Small banks issue credit cards, but Visa, MC, etc. are really big bank creations, so that the small banks get just a fraction of the benefit of the cards. Even your debit card says Visa or MC on it, I'll bet, and is tied in. That's just the easiest to identify. Visa, at least theoretically, is an independent company. It has morphed over the past 50 years from the original BankAmericard into Visa. (There's that BOA again!).

I don't know how you can completely sever those relationships in todays overlapping banking world, unless you simply do everything with cash. I refinanced my home last year with a local Credit Union because I wanted out of the mega bank world, but I can't figure out a way to completely divest myself.

[txgunner00]

..
I don't know how you can completely sever those relationships in todays overlapping banking world, unless you simply do everything with cash. I refinanced my home last year with a local Credit Union because I wanted out of the mega bank world, but I can't figure out a way to completely divest myself.

I went with a local lender when I bought my current house two years ago thinking the same thing. I made one payment to them then they sold the note off... to Wells Fargo.:mad: Same thing with my first house that I still own- Citi group.:mad: Even cash is funny money backed by the Federal Reserve Bank- which is not federal at all. It's private!

[hobbesgunner]

Pistol permit requires one here...its on the back..... a thumbprint that is...

[Deezil]

dammit, my mortgage is through those idiots.... wish I had a way to kick them to the curb.

[BjornF16]

dammit, my mortgage is through those idiots.... wish I had a way to kick them to the curb.

Re-finance...rates are low. Hopefully you are not "upside down"

[Variable]

I went with a local lender when I bought my current house two years ago thinking the same thing. I made one payment to them then they sold the note off... to Wells Fargo.:mad: Same thing with my first house that I still own- Citi group.:mad: Even cash is funny money backed by the Federal Reserve Bank- which is not federal at all. It's private!

Yup, same here. My house mortgage went from the local bank straight to Suntrust, and my Ford car loan for the wife somehow ended up Wells Fargo??? I don't know how that one happened. I must not have listened to the deal close enough or something.

[BjornF16]

I bought my house in Texas under Texas Veteran's Land Board with USAA back in 2007...they promptly sold it to BoA (I was po'd!).

...so I refinanced.

I reckon they didn't do so well on the deal (they tried talking me out of it - :p). At the time, I had already heard that they were giving various gun companies / gun buyers grief.

It is common practice in finance to "sell off" loans...the selling institution gets a guaranteed profit (albeit less than if they held onto the loan, but holding onto the loan increases their risk). The buying institution gives up a portion of the future profit (interest).

There is normally some "fine print" that states the institution you are originally dealing with can "transfer" or "sell" the note to another institution.

[Variable]

Yeah, I went to refi my house since everybody said that was the thing to do, but my original rate was 5.545%. After the banks I tried (including my credit union at work) added in all of the extra stuff they don't mention in the adds, the rate wasn't all that much lower. I said screw them. I put a good chunk down to begin with, didn't borrow too much to start, and I've been paying an extra 20% each month since the beginning. I'll just ride my original loan out till I pay it off early. I don't trust any of them.

[Deezil]

Re-finance...rates are low. Hopefully you are not "upside down"

Well, I would but I have not had the loan a year yet, I cant! and no, Im not upside down in anything I own.