This Doesn't Suprize Me At All

[John Thomas8]

"Once banks realized that overdraft fees could be a cash cow, they developed 'fee-harvesting' software, which reorganizes the order of your checking transactions to maximize the number of overdraft fees. In other lines of financial business, this is called 'backdating,' and it's considered 'fraud.'" (truth-out.org)

[John Thomas8]

Jefferson: "If the American people ever allow private banks to control the issuance of their currency,...the banks and the corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their father's conquered."

The federal reserve system of banks is privately owned. And look at the state of things.

[JeffDeWitt]

Didn't a President (Eisenhower or Kennedy maybe?) have a meeting of great thinkers at the White House and make a comment something like "This is the greatest collection of wisdom brainpower in this room since Thomas Jefferson sat here by himself."

ALL of our current "leaders" intelligence, compassion and wisdom COMBINED look like a "special needs" whiny 5 year old brat compared to Mr. Jefferson.

[John Thomas8]

[JeffDeWitt]

](*,)

John, I was more or less agreeing with you, if Jefferson warned us about something it's worth taking seriously.

[Sotaae'o]

maximize the number of overdraft fees

Of course they will do that. That is, until banks find another loop hole like mortgage securities/derivatives to make their money. Then, they'll retract parasitic banking for good PR in favor of a newer more profitable shell game based on the exploitation of a different modern regulatory loophole. By the time the government figures that one out, we'll be ready for another too-big-to-fail bank bailout in 15 or 20 years, and then all the parasitic banking fees will apply again until the next round of highly profitable corruption.

The S&L bailout was just the first of many. These bank bailouts are like a comet in orbit around our solar system, and the bank fees are like the chain reaction that happens immediately after the comet has passed.