Bank of America / UPS Go Their Separate Ways

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FDIC guarantees your bank account up to something like 250,000?
Let me propose 2 scenarios
1. You bank account is not guaranteed by the government
2. It is
In Which of these scenarios would you do more due dilegence in the banks business practices, reputation, risk taking etc.
do you think some of the bad behavior like the sub prime loan stuff would be able to happen if people had any concern their deposits were at risk?
Does fdic insurance really protect the consumer or just let the banks engage in riskier behavior?
This is actually a thoughtful response.

I think it kind of does both. The fractional-reserve banking system alone probably encourages risky behavior on the part of banks.
 

govols019

You smell that?
FDIC guarantees your bank account up to something like 250,000?
Let me propose 2 scenarios
1. You bank account is not guaranteed by the government
2. It is
In Which of these scenarios would you do more due dilegence in the banks business practices, reputation, risk taking etc.
do you think some of the bad behavior like the sub prime loan stuff would be able to happen if people had any concern their deposits were at risk?
Does fdic insurance really protect the consumer or just let the banks engage in riskier behavior?

Ask the people who lived through the depression what they think.
 

zubenelgenubi

I'm a star
My guess is that UPS started treating their contract with BofA the way they treat our contract, as a free pass to do whatever they want. I wonder when our customers will realize what's going on with their contracts.
 

Jackburton

Gone Fish'n
Love this response, guess how much I treat I paid in 15 years. I’ll help you, zero.
Guess how many free vacations I’ve taken on the backs of banks? A lot.

This is just one Amex account I have, out of 4. And this is just Amex, not Chase, Cap 1, Citi, BoA.
 

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Over70irregs

Well-Known Member
Love this response, guess how much I treat I paid in 15 years. I’ll help you, zero.
Guess how many free vacations I’ve taken on the backs of banks? A lot.

This is just one Amex account I have, out of 4. And this is just Amex, not Chase, Cap 1, Citi, BoA.
Sweet. Inflation is eating up your points, burn that catalog up sir.
 

Over70irregs

Well-Known Member
Silver is a trap that is manipulated. It will head lower. It will be demonetized along with gold. Precious metals are only useful when analyzing macro environment. It can be dug up at anytime and inflated like fiat.
 
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Jackburton

Gone Fish'n
Sweet. Inflation is eating up your points, burn that catalog up sir.
Man, if only you had a clue. I’ve traveled all over the world in the last 5 years, I think I paid maybe $2k out of pocket for taxes and fuel surcharges. This is just MR points from me and my wife’s accounts from this year alone. Cashing them out via Schwab is 1.1CPP, they’d be worth over $32k in cash, that’s if I cashed them out vs transferring for business and first class flights, which we took to 4 different continents this year alone. This doesn’t even include Cap 1, Chase UR, Citi, or straight cash back cards we use for our side business. I’ve paid zero, and I mean, zero interest on any cards I’ve had for 10+ years.

Tell me more about points now please. I’m eager to learn so much. 🤭
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Over70irregs

Well-Known Member
Man, if only you had a clue. I’ve traveled all over the world in the last 5 years, I think I paid maybe $2k out of pocket for taxes and fuel surcharges. This is just MR points from me and my wife’s accounts from this year alone. Cashing them out via Schwab is 1.1CPP, they’d be worth over $32k in cash, that’s if I cashed them out vs transferring for business and first class flights, which we took to 4 different continents this year alone. This doesn’t even include Cap 1, Chase UR, Citi, or straight cash back cards we use for our side business. I’ve paid zero, and I mean, zero interest on any cards I’ve had for 10+ years.

Tell me more about points now please. I’m eager to learn so much. 🤭View attachment 412506View attachment 412507
Use them up. Companies are changing points/rewards. Pretty simple……
 
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