What's new
By:
USCHO Fan Forum

This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

  • The USCHO Fan Forum has migrated to a new plaform, xenForo. Most of the function of the forum should work in familiar ways. Please note that you can switch between light and dark modes by clicking on the gear icon in the upper right of the main menu bar. We are hoping that this new platform will prove to be faster and more reliable. Please feel free to explore its features.

POTUS 45.21 STAND for our great National Anthem

Status
Not open for further replies.
Re: POTUS 45.21 STAND for our great National Anthem

SJHovey said:
Geez, wouldn't it be great if we could form a class action and threaten billions in "damages" and basically extort $30-40 million out of Wells Fargo, the lawyer thinks.
Click to expand...
Except there was monetary loss and it's not like they can just magically pull that figure out of thin air like you're suggesting.
 
Re: POTUS 45.21 STAND for our great National Anthem

SJHovey said:
Here's what's going on.

So Wells Fargo pushes all of it's people to open up new accounts. Savings accounts, credit card accounts, etc... It looks good to Wall Street, even if no one ever uses the credit card or puts any money in the account.

A bunch of employees engage in was is clearly fraud by either just opening the account up for the customer without the customer even knowing it, or tricking the customer into opening the account. For example, slipping a credit card application into a bunch of mortgage documents that the customer actually wanted to sign.

The employees did it to look good for their bosses, but also because they expected there would be no real damage to their customer. So their customer now has another savings account. So what, the employee thinks. No one is going to use it. There won't be a financial loss to the customer. So they do it, and then they get caught.

Fast forward to today. The aggrieved customer goes to a lawyer. The lawyer observes two things. First, there is a mandatory arbitration clause, which means you're probably going to get some retired lawyer or judge deciding your case instead of a bunch of east Texas or rural Mississippi jurors. But you do still have the right to bring the arbitration claim. Second, your client has no real damages. That is, while they have certainly been "defrauded," they have no real financial loss.

Geez, wouldn't it be great if we could form a class action and threaten billions in "damages" and basically extort $30-40 million out of Wells Fargo, the lawyer thinks.

I've got an idea. How about we handle this the way it should be handled. Maybe the Treasury department or Congress or the state banking regulators step in and punish these banks and the bankers? I'm no great fan of our government's regulatory features, but they have their place. Leaving the regulation of corporations up to trial lawyers is not the way it should be handled.
Click to expand...

Uh there was more to it than that. Wells Fargo was opening accounts in peoples names without their knowledge. You cant consent to something you dont know about. Care to try again?
 
Re: POTUS 45.21 STAND for our great National Anthem

SJHovey said:
I've got an idea. How about we handle this the way it should be handled. Maybe the Treasury department or Congress or the state banking regulators step in and punish these banks and the bankers? I'm no great fan of our government's regulatory features, but they have their place. Leaving the regulation of corporations up to trial lawyers is not the way it should be handled.
Click to expand...

LOL. After 2008 that's just not going to happen.
 
Re: POTUS 45.21 STAND for our great National Anthem

We need reform and actual enforcement of financial regulation, let's vote for a Republican!

And yes I realize the Clintons and to a lesser extent Obama (the enforcement part) have a bad track record here
 
Re: POTUS 45.21 STAND for our great National Anthem

I'm not a super big fan of banks, but I would be careful in calling for increased lawsuits on banks, etc. We don't need super incentives for people to sue banks over minor issues - along the same lines of suing restaurants for hot coffee. Its great if youre the plaintiff who gets the big payday for a weak transgression...but we the typical customers pay for that in terms of increased costs of banking services of having to put up with increases in frivolous lawsuits.

Banks as with most major organizations spend much of their SG and A on customer satisfaction and customer service. Every major corporation these days measures NPS - net promoter scores - a customer's willingness to recommend them to their friends. There are some blind spots to this...which is why we need regulation. It is regulation and its enforcement that we need to get right. Once again, it is our current governments design and ineptitude in getting the best policies that is this country's problem...not easy access to lawsuits.

alfablue said:
How is it brave to call out congress and the government complicit in letting dump be a ******* yet totally let off his buddies pence and ryan- who are key people in that allowance????

Call people out, even if they are your friends. That's courage.
Click to expand...

I don't disagree that Pence, Ryan, the GOP, etc feeling pain as well...would be an improvement. But that doesn't make Flake calling out Trump as a key member of his own party anything less than a great thing and still very courageous. If he called out the entire GOP, he would be categorized as a closet dem and his voice would be much less relevant than it is today.
 
Last edited:
Re: POTUS 45.21 STAND for our great National Anthem

Drew S. said:
It was a rhetorical question. In case anyone didn't know he added around seven trillion to the national debt.
Click to expand...

We aren't talking debt, we are talking deficit. Now please answer your question again.
 
Re: POTUS 45.21 STAND for our great National Anthem

Drew S. said:
And how did Obama do? We could spend all day rehashing how we've gotten to this point, but it really doesn't matter. Nothing is going to change what has already happened. My question is how do we fix it going forward? Are there any democrats right now calling for a balanced budget or fiscal sanity? If there are I must have missed them. Neither party wants to step up to the plate as far as I can tell.
Click to expand...

He started high and ended low. He also started with a much, much deeper economic hole that Clinton did. Based on the trends, it would not be a stretch that a Clinton2 administration would have lead to a balanced budget.

As for the current people calling for a balanced budget- the only ones who are pointing out that the planned tax cuts will not help the budget or deficit are the D's. Giving money to rich people will not expand the budget via any trickle down reason- they are not going to hire more people in their businesses just because, and they spend less money relative to their income- which is bad for the economy as a whole. That theory makes zero sense, and it's never worked in practice. If you want to give the average person a tax cut, give it to them directly- not via corporate rate lowering or trickle down economics.

Obama and Clinton also had people who understand that $1B of spending goes farther through the economy the lower the income bracket you give it to, as the lower income segments spend more money relative to their income than rich. And they are more likely to spend it in areas that cycle the money through the economy more and more. Rich spend it on high end items that result in other rich people pocketing money- which just takes more money out of economic circulation.

Why is it that since Ds disagree with your idea of spending that they are not stepping up to the plate??? They have ideas- but you don't want to give money to poor people. And because of that, they are not stepping up to the plate?

D's had a plan to fund the ACA, which has the nice result of reducing uncertainty in people, thus opening more paths to entrepreneurs to take a risk and start a company. R's hate helping people, and the net result of that is uncertainty- which has now raised the price of healthcare for all, yay.

Stop voting for people who lie to your face, drew. That will fix a lot.
 
Re: POTUS 45.21 STAND for our great National Anthem

5mn_Major said:
I'm not a super big fan of banks, but I would be careful in calling for increased lawsuits on banks, etc. ....
Click to expand...

yah. didn't a fool woman sue mcd for hot coffee that she spilled on her lap? all we need is some stupid broad going after bank of america cause she's in over her head in cc debt.
 
Re: POTUS 45.21 STAND for our great National Anthem

5mn_Major said:
I'm not a super big fan of banks, but I would be careful in calling for increased lawsuits on banks, etc. We don't need super incentives for people to sue banks over minor issues - along the same lines of suing restaurants for hot coffee. Its great if your the plaintiff who gets the big payday for a weak transgression...but we the typical customers pay for that in terms of increased costs to the banking industry of having to put up with increases in frivolous lawsuits.

Banks as with most major organizations spend much of their SG and A on customer satisfaction and customer service. Every major corporation these days measures NPS - net promoter scores - a customer's willingness to recommend them to their friends. There are some blind spots to this...which is why we need regulation. It is regulation and its enforcement that we need to get right. Once again, it is our current governments design and ineptitude in getting the best policies that is this country's problem...not easy access to lawsuits.



I don't disagree that calling out Pence, Ryan, the GOP, etc would be better. But that doesn't make calling out Trump as a key member of his own party anything less than a great thing and still very courageous. If he called out the entire GOP, he would be categorized as a closet dem and his voice would be much less relevant than it is today.
Click to expand...

Not to mention they serve a legitimate purpose. People hate things like banks and insurance companies, but society would be much worse off without them.

For the record, I had an account fraudulent opened in my name(not by Wells Fargo.) I was pretty irritated by it although I didn't file a lawsuit or anything like that. I figure life is too short and you need to move on.
 
Re: POTUS 45.21 STAND for our great National Anthem

SJHovey said:
Here's what's going on.

So Wells Fargo pushes all of it's people to open up new accounts. Savings accounts, credit card accounts, etc... It looks good to Wall Street, even if no one ever uses the credit card or puts any money in the account.

A bunch of employees engage in was is clearly fraud by either just opening the account up for the customer without the customer even knowing it, or tricking the customer into opening the account. For example, slipping a credit card application into a bunch of mortgage documents that the customer actually wanted to sign.

The employees did it to look good for their bosses, but also because they expected there would be no real damage to their customer. So their customer now has another savings account. So what, the employee thinks. No one is going to use it. There won't be a financial loss to the customer. So they do it, and then they get caught.

Fast forward to today. The aggrieved customer goes to a lawyer. The lawyer observes two things. First, there is a mandatory arbitration clause, which means you're probably going to get some retired lawyer or judge deciding your case instead of a bunch of east Texas or rural Mississippi jurors. But you do still have the right to bring the arbitration claim. Second, your client has no real damages. That is, while they have certainly been "defrauded," they have no real financial loss.

Geez, wouldn't it be great if we could form a class action and threaten billions in "damages" and basically extort $30-40 million out of Wells Fargo, the lawyer thinks.

I've got an idea. How about we handle this the way it should be handled. Maybe the Treasury department or Congress or the state banking regulators step in and punish these banks and the bankers? I'm no great fan of our government's regulatory features, but they have their place. Leaving the regulation of corporations up to trial lawyers is not the way it should be handled.
Click to expand...

Really, that's your example? WF broke the law and opened unauthorized accounts, and that somehow does not harm the customers??? How do you come to that conclusion?

And their employees are doing it- so the management are not to blame for that??? Again, what logic is that?

WF as a corporation illegally opened accounts. They should be punished for doing that fraudulent action. How is a settlement for a mere $40M extortion??? That's hardly any money to a bank.

I'm totally fine with Treasury doing their job. But they didn't and the next recourse to do that are customers suing them. And that should happen.
 
alfablue said:
So you have it at least reduced down to the R President. Again, if it's really that important, why do you still vote for them?

It's funny that President Obama haters really got bothered by the whole "Hope" campaign, but they are 100% voting on the hope that their presidential vote does something an R president has not done for over 40 years. Duh. Again, displaying the pop definition of insanity.

R's are about hope and fear- fear that D's will take their guns, and hope that R's will actually look out for them. Neither of which have been true for a long time.
Click to expand...

Not her. Not in 1,000,000 years her. As I have said before, Biden would have come close to Reagan/Clinton landslide numbers.
 
Re: POTUS 45.21 STAND for our great National Anthem

Drew S. said:
Not to mention they serve a legitimate purpose. People hate things like banks and insurance companies, but society would be much worse off without them.

For the record, I had an account fraudulent opened in my name(not by Wells Fargo.) I was pretty irritated by it although I didn't file a lawsuit or anything like that. I figure life is too short and you need to move on.
Click to expand...

People don't hate banks and insurance companies. They hate corruption and money grabbing. There's a big difference.

They don't hate big corporation, either- except the ones that are attempting to defraud them. Again, big difference.
 
Re: POTUS 45.21 STAND for our great National Anthem

Drew S. said:
One feeds the other. They cannot be separated.
Click to expand...

And that addition to the debt likely was enough to end the recession where it was. Would you rather have a big depression or another $1T in debt?

You don't seem to understand the actual workings of our economy very well. The whole goal is to make sure people spend money. That spending cycle make sure that people have reasons to make *stuff*. When the banks froze up- they prevented people from buying things on credit, and that had a domino effect on many other items- as the employees of companies who used that credit no longer had money to spend

President Obama did basically a public works campaign- which injected a lot of money into the segment of our economy that spent money. That money cycled through the economy and basically opened things back up again. You can't expect anyone making over $1M to actually stimulate the economy, as there are not enough of them, and they would not spend all of the money given to them. Poor people spend money- even on stuff you don't think they deserve, like cable TV and smart phones. But when they spend that money, it keeps cycling through the economy at a good rate. Not giving it to them just keeps it in savings accounts.
 
Re: POTUS 45.21 STAND for our great National Anthem

joecct said:
Disliking HRC is fear mongering? Gad! If that's the case, we're 21 threads in to the largest fear mongering in USCHO history.
Click to expand...

If you say so. But the trends were pretty clear that she would have eventually had a balanced budget, thank to the work President Obama was doing. Just like her husband did.
 
Re: POTUS 45.21 STAND for our great National Anthem

alfablue said:
Really, that's your example? WF broke the law and opened unauthorized accounts, and that somehow does not harm the customers??? How do you come to that conclusion?

And their employees are doing it- so the management are not to blame for that??? Again, what logic is that?

WF as a corporation illegally opened accounts. They should be punished for doing that fraudulent action. How is a settlement for a mere $40M extortion??? That's hardly any money to a bank.

I'm totally fine with Treasury doing their job. But they didn't and the next recourse to do that are customers suing them. And that should happen.
Click to expand...
I'm a Wells Fargo customer. I got all the notices that people may have opened up accounts in my name.

Is it annoying? Yes. Does it pizz you off? Yep. Did some financial harm come to me? Nope. Not that I can tell at least.

If some clown opened up a Wells Fargo savings account in my name, and it's sitting there empty, it annoys me but it hasn't harmed me. Furthermore, in the perverse world we live in you might actually see a benefit to your credit worthiness if you have an extra credit card account opened up, as odd as that sounds. You get punished when you close the account, but benefit when it's opened.
 
Status
Not open for further replies.
Back
Top