Wall St. to Taxpayers: "Thanks for the Bailouts, Have Some Higher Fees"

The best thing you can do is pull your money out of the big banks like JP Morgan, Citi, and BOA. They do nothing but use your deposits as collateral for derivatives and speculation. Bank local. www.solari.com/blog

How about a Hong Kong bank chartered in Switzerland?

I'm trying to be surprised...but just can't put forth the effort. I mean, what did you expect?? Birthday and Christmas cards from the banks???

Agreed Anthony - get your money out of the big banks, they don't deserve to have any more chips at the craps table than they've already lost. Your grandparents and children will thank you. Would you gamble their retirement and inheritance away on the roulette wheel or in a slot machine?

And why is this a surprise to anyone? Go ahead and blame the banks for screwing you ... This is another one of those deals where the politicians wanted to regulate and show them banks ... and convince you naive voters that your elected officials are doing their jobs.... well, guess what.... the politicians didn't think this one through again and look at the consequences.... Now, go ahead, you go after those evil bankers and you make sure your idiot politicians get a big pat on the back for their less than useless effort.....

HAHAHA! Another 627,000 people with no jobs and the markets are up over 100 points! How are the banks going to collect all these new fees from people with little or no income to pay back debts?

Anthony - Thursday June 25, 2009 12:49PM EDTThe best thing you can do is pull your money out of the big banks like JP Morgan, Citi, and BOA. They do nothing but use your deposits as collateral for derivatives and speculation. Bank local. www.solari.com/blog ++++++++++++++++++++++++++++++++++++++++++++++++++ Exactly right. Let's hope about 10-20 millions customers say FU to these greedy slugs, and move their accounts to local banks or credit unions. VOTE with you money and move your accounts away from these crooks.

Join your local credit union.

God bless America, oops I mean the United States of China.

Support everything community and stay away from the people who will NOT be there when you need them. Big banks, big box stores, malls they're all the same. When they've drained you dry they'll move out after they've destroyed the local small businesses.

The American people can't win for loosing. All these decision are made by others for us! I guess we will use cash...until it's worthless, and then what do we do?

Stop using credit- you have a vote - use it!

Don't blame me. I didn't vote for Obama!

right, just like the state and federal governments are going to be jacking up taxes and increasing fees on everyone very soon to pay for the bailouts and stimulus and deficit spending. Dow up 200 pts on the news.

This is a timely piece. The core of the "onion" is the shrinking loan volume and loss, coupled with the loss of exotic derivative incomes (the ponzi scheme incomes mainly the structured finance). Despite the capital raising, our entire banking industry remains technically insolvent . The big fours . i.e. BOA, CITI, JPM and WFC have to be nationalized . The delay of the inevitable will be extremely impossible to go beyond Q1 2010. In Q3 and Q4, the nationalization topic will be hot again due to the insurmountable losses. Investors who bought the stocks in the recent offerings will be in tears. In the coming Q2, we will see the worst earnings from the big fours due to the diminishing" benefit" of the "kitchen sink" accounting gains and maximum trading profits including the many so-called one time non-recurring trading revenues, highlighted the CDS back-door gifts by AIG. We can analyze them line by line later as we get into the earning season in July. For now, If you have ever examined the financials by the Big Four, you have no other conclusion but this: The best time is over for them. Q2 will be the turning point although they may hug around the break even except the CITI, which is a dead man walking anyways.

Each time a bank touches money they keep some of it. The solution is called CASH.

Yes, the big banks are rip offs. I have all my money in a local credit union (FDIC protected). I can do balance transfers and pay off the credit card issued by the CU on-line with NO fees. I can get money out of a limited set of ATM's with no fees (I know where they are, and even if I use a big bank ATM, I only get charged that banks fee .. nothing from the credit union). No fees for automated checking and bill payments. AND they still offer some of the lowest fees and best rates on any types of loans if I'm interested. Yep, the big banks offer nothing but higher costs, so they can pad their extravegent expenses and pay.

I love the Yahoo Finance headline today: "Markets Higher on Retail and Homebuilders". Thank you revealing your affiliation with the PPT. What a joke...the data is horrible, and you guys are cheerleading this sham!

This is what you get when you keep rates low. Nobody wants to lend!

I just moved all my personal and business accounts to my local bank and I would encourage others to do the same.