For all the BOA haters - Page 5

zer0t · 07-17-2009, 08:28 AM

Quote:

Originally Posted by Homeslice

What deposit? You mean when they credit it back to my account? I never expected to get a paper receipt for that. Technically nothing was withdrawn from my account, they just put a hold on that money. So, all they really have to do is "unlock" that hold.......

When you purchase a money order from any bank the funds are withdrawn from your account. If you purchased it at a 7-11 or a post office you would have to present the funds in cash to receive the MO. This is how the payment is guaranteed.

z06boy · 07-17-2009, 09:30 AM

Quote:

Originally Posted by Trip

I cleaned it up to get rid of a lot of the dumb shit. I think we probably all need a cool down lap, myself included. Either that or we all really need to get laid, I KNOW I DO! Course that hardly ever changes even when I do get some.

Crap...missed some drama.

BOA earnings beat expectations...good for them. They've got $$ to pay back a good chunk of theTARP funds too but oh that's right...the government has to approve the payback. Talk about wanting control.

shmike · 07-17-2009, 09:35 AM

Quote:

Originally Posted by z06boy

BOA earnings beat expectations...good for them. They've got $$ to pay back a good chunk of theTARP funds too but oh that's right...the government has to approve the payback. Talk about wanting control.

I'm torn on this.

The "official story" for needing approval for payback is that the government doesn't want the banks to spread themselves too thin by repaying the funds.

By doing so, the first bump in the road could send them scurrying back to Uncle Sam for more handouts.

It's not about control of the banks but making sure they are able to stand on their own two feet before letting them run off on their own.

That is the explanation as I understand it, whether or not you believe it is another matter.

z06boy · 07-17-2009, 09:39 AM

Quote:

Originally Posted by shmike

I'm torn on this.

The "official story" for needing approval for payback is that the government doesn't want the banks to spread themselves too thin by repaying the funds.

By doing so, the first bump in the road could send them scurrying back to Uncle Sam for more handouts.

It's not about control of the banks but making sure they are able to stand on their own two feet before letting them run off on their own.

That is the explanation as I understand it, whether or not you believe it is another matter.

Sure that's the "official story" but no I don't believe it because it's BS.

BOA was told to raise a certain about of capital...they did...the amount was reconsidered and increased...they have that on hand now...still a hold up for some reason...humm...

Tmall · 07-17-2009, 11:07 AM

Actually, I sent an 800cdn money order a short while ago.

I could cancel or challenge it after 90 days. That was written on the back and told to me by the clerk who sold me it.

07-17-2009, 11:07 AM	#45
Tmall Aspiring Rapper Join Date: Nov 2008 Location: Halifax, NS Moto: '12 CB1000R Posts: 3,569	Actually, I sent an 800cdn money order a short while ago. I could cancel or challenge it after 90 days. That was written on the back and told to me by the clerk who sold me it.