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R. Nader comments on R. Perot's Prophecies re:GM, Nafta

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  • #16
    Re: R. Nader comments on R. Perot's Prophecies re:GM, Nafta

    Originally posted by Jim Nickerson View Post
    Americans to my meager assessment are not anywhere near being pissed off enough to make your elected officials consider changing anything except perhaps in some cosmetic degree.
    I agree . . . .
    And in the midst of burgeoning of "green shoots" was probably not the best time to send out my letter

    Consider me an "early adopter"

    I'll try again later when the gov't issues food ration cards :eek:
    raja
    Boycott Big Banks Vote Out Incumbents

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    • #17
      Re: R. Nader comments on R. Perot's Prophecies re:GM, Nafta

      Originally posted by raja
      People forget that banks are businesses that depend on their customers. They will fail if people stop using them. Dont' you think that would get their attention . . . and the attention of the politicians that they support?
      From my point of view, the banks have achieved military-industrial complex status: with government money, who gives a crap about retail customers?

      Its not like the banks are lending now anyway; their primary forms of income appear to be interest paid by the Fed on deposits held and fees charged to people who hold money there...but both of these are insignificant compared to the wholesale gifting of vast sums of cash.

      This cash does come from you, I, and every other taxpayer, but the only way to starve this path is to stop paying taxes. Merely switching banks isn't going to do it.

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      • #18
        Re: R. Nader comments on R. Perot's Prophecies re:GM, Nafta

        Originally posted by c1ue View Post
        From my point of view, the banks have achieved military-industrial complex status: with government money, who gives a crap about retail customers?

        Its not like the banks are lending now anyway; their primary forms of income appear to be interest paid by the Fed on deposits held and fees charged to people who hold money there...but both of these are insignificant compared to the wholesale gifting of vast sums of cash.

        This cash does come from you, I, and every other taxpayer, but the only way to starve this path is to stop paying taxes. Merely switching banks isn't going to do it.
        What percent of the big banks income comes from retail customers?
        raja
        Boycott Big Banks Vote Out Incumbents

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        • #19
          Re: R. Nader comments on R. Perot's Prophecies re:GM, Nafta

          Raja,

          Citibank revenues in 2008: $52.793B

          http://en.wikipedia.org/wiki/Citigroup

          Citibank bailout in 2009: $300B

          http://seekingalpha.com/article/1075...-a-lot-anymore

          You tell me which is more important.

          Comment


          • #20
            Re: R. Nader comments on R. Perot's Prophecies re:GM, Nafta

            Originally posted by c1ue View Post
            Raja,

            Citibank revenues in 2008: $52.793B

            http://en.wikipedia.org/wiki/Citigroup

            Citibank bailout in 2009: $300B

            http://seekingalpha.com/article/1075...-a-lot-anymore

            You tell me which is more important.
            17% of revenue --
            Sounds important to me . . . .

            What would the government's reaction be if there was a massive customer boycott? Would it be likely to give the bank even more stimulus?

            Hopefully, government stimulus is an infrequent event, that will stop at some point. Ongoing retail revenue is . . . well, ongoing.

            I still say, Boycott the Big Banks !
            raja
            Boycott Big Banks Vote Out Incumbents

            Comment

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