TC G

That is a shame, but you've got bigger issues, mainly your avatar. GO BLUE!!

Uncle Dave

Unfortunately banks arent really in the "loan" business anymore- they make way to much money gambling with our deposits, then getting bailed out when they screw up and using the bail out money from you and I to give themselves bonuses.

They dont even have 10 % of the money they actually do loan out anymore to cover bad debt- thats our "fractional reserve system" at work.

If they cant immediately sell a loan to a gov protected entity they just aren't interested.


Uncle Dave

THE 288 KID

Michigan state fcu might be worth your time. $30 u can join. Awesome rates, great online banking and email reminders.

Indy

11/24/12

Pantera28TS

Check this out...I just got back from my bank (BoA) I tried to with draw $8,500.00 cash, I was told to withdraw anything over $5,000.00 it needs to be ordered at least one day in advance.!!! I drove 5 miles down the road to get the balance of 3,500.00 WTF it's my $$$ I always thought it was there when I needed it...I guess my $$$ is really theirs !!!and they make the rules...probably time to find another bank.

snapmorgan

iTrader: (2)

Found a boat that i liked while on vacation here at Havasu. Called my bank yesterday and thu funds are being wired to the boat dealer this morning. No questions asked. If anyone would like the info on my banker, just send me a pm. I am sure he would like to have your business.

The only money that I put down was the $1000 for the dealer to hold it.

TC G

A lot of people on here are blaming the banks but you need to look at the root of the problem. It's the Gov't telling them how they are going to run their banks and telling them what they can and can not do. Don't shoot the messenger.

And I'm not a banker

onesickpantera

iTrader: (1)

X 1,000,000!!!

All I hear on the news is repeal Health Care Reform. Repeal Dodd-Frank first! Honestly I don't know what Dodd-Frank is doing to installment loans but it has made a big impact in the mortgage market. This law was passed to "protect" the customer but it actually hurts the customer. It makes less competition, more confusing paperwork and far less options.

Chris Dodd and Barney Frank helped create this mess and then they sponsor a law to "fix" it? WTF?

Ugggg, rant off.

onesickpantera

iTrader: (1)

I think the main problem with loaning money on boats is the fact that it's a toy. If you have a loan on a home, a car and a boat and you lose your job the first thing you're going to quit paying on is going to be the boat. I would think that boat repositions have skyrocketed over the last 5-6 years. Then add in the fact that banks now see "black or white" and it's tough to get a boat loan.

Credit unions seem to be much more willing to look at you as an individual and see the "gray" areas.

Uncle Dave

Thats because banks are hoarding cash and not loaning it out.

They are flirting with their reserve amounts all the time and are in the business of making money for investors in their stock - NOT helping you out in any way shape or form.

They have the perfect scenario- you give them money -
They invest it how they see fit.

When it doesn't work out they get free money from our government to replace what they gamble away. Then to top it all off they give themselves bonuses with that money.

Then when they do decide to loan money- they "create money" out of thin air with the fractional system about 90% actually.

True- the government lets them do it, but the big banks are simply another batch of wall street thieves manipulating the system and skirting the rules whenever they dong think they'll get caught.

Lather- rinse repeat.


UD