Let big banks die...let smaller banks thrive?

[MovingTarget]

Originally posted by: dullard

Originally posted by: MovingTarget
Banks open on the weekends after noon on Saturday? I can't name one, large or small.

US Bank: Scroll to #3 Open 9 am to 7 pm Monday through Friday. As a bonus, this branch isn't drive through only (like many other banks with their later hours) you get full teller service at any time it is open. 7 pm is very nice so I can go in after work. Open until 4 pm on BOTH Saturday and Sunday so I can go in on weekends. Also see #2 and #3 in the same city.

Wells Fargo is starting it too. See bank #1 is open until 7 pm on weekdays and 5 pm on both Saturday and Sunday.

I didn't say small banks were any better or worse when it came to fiscal responsibility since I don't have that data. But the claim that small banks were the cure-all was way off base. I had to comment.

6pm is a pretty common closing time on the weekdays, but 7pm is pretty awesome. However, none of those banks, even those that have a presence in my region, are open on the weekends, which was my point.

 

[BoberFett]

Originally posted by: miketheidiot
oh and letting the big ones fail woudl kill alot of the small ones, and small banks can't do alot of what the large banks do: ie large scale finance

Do you mean the kind of large scale finance that we're bailing out right now?

If someone needs large scale finance then find investors and sell stock. Don't sink the banking industry with your large scale scams.

 

[Xavier434]

Originally posted by: BoberFett

Originally posted by: miketheidiot
oh and letting the big ones fail woudl kill alot of the small ones, and small banks can't do alot of what the large banks do: ie large scale finance

Do you mean the kind of large scale finance that we're bailing out right now?

If someone needs large scale finance then find investors and sell stock. Don't sink the banking industry with your large scale scams.

If that were a great answer for all businesses in all industries then why do they all not do that now whenever they need a lot of financing? Why were they all not doing that 5, 10, 20 years ago?

 

[PingSpike]

Originally posted by: miketheidiot

Originally posted by: blackangst1

Originally posted by: MovingTarget
"Too big to fail == Big enough to be split."

Lets do this. Smaller local banks have better service and employ more people than if they merged into larger banks.

Im not sure what you mean by "employ more people". Does it take 30 employees to run a BofA branch but 38 if it was a local bank? What do you mean? It doesnt matter what the bank brand is, it employes locals. Right?

pretty much what you explained, local banks tend to be less cost efficient, for a variety of reasons. Employing more people is not an unqualified good thing, especially if that coudl be done better by fewer.

My local bank may not be as cost efficient, but it did post an increase in profits last year while the big cost efficient banks shit their bed so hard it soaked through to the boxspring. Of course, maybe they are more cost efficient since when they fuck up the tax payers just wipe out the losses whereas the small banks would be left to die.

 

[MovingTarget]

Originally posted by: PingSpike

Originally posted by: miketheidiot

Originally posted by: blackangst1

Originally posted by: MovingTarget
"Too big to fail == Big enough to be split."

Lets do this. Smaller local banks have better service and employ more people than if they merged into larger banks.

Im not sure what you mean by "employ more people". Does it take 30 employees to run a BofA branch but 38 if it was a local bank? What do you mean? It doesnt matter what the bank brand is, it employes locals. Right?

pretty much what you explained, local banks tend to be less cost efficient, for a variety of reasons. Employing more people is not an unqualified good thing, especially if that coudl be done better by fewer.

My local bank may not be as cost efficient, but it did post an increase in profits last year while the big cost efficient banks shit their bed so hard it soaked through to the boxspring. Of course, maybe they are more cost efficient since when they fuck up the tax payers just wipe out the losses whereas the small banks would be left to die.

Also true. What I find funny is those who say that bailing out the big banks amounts to socialism, yet they were the ones who would generally support allowing the banks to continue to merge to get that big. Smaller banks are more "capitalist" if you will. They are more connected with reality than the insulated robber barons at the top of the bigger banks.