Saturday, July 09, 2005
Banks
Some twenty to thirty years ago the banks made money by
investing other people's money....In the 1980's that tact
failed.....
Banks then began to realize that the money that they wanted
to grow and expand with was not in their investments but in
their depositors.....The results are now high transaction fees
and low dividends....
A five thousand dollar deposit now has a dividend of $1.08 a
month or $12.98 a year....Maintain an amount less than your
minimum account balance, or forbid, you bounce a check and it
costs you....Your local bank is nothing more that a large
ATM machine with fixed hours with a few people at the top
making big bucks.....Pumps
investing other people's money....In the 1980's that tact
failed.....
Banks then began to realize that the money that they wanted
to grow and expand with was not in their investments but in
their depositors.....The results are now high transaction fees
and low dividends....
A five thousand dollar deposit now has a dividend of $1.08 a
month or $12.98 a year....Maintain an amount less than your
minimum account balance, or forbid, you bounce a check and it
costs you....Your local bank is nothing more that a large
ATM machine with fixed hours with a few people at the top
making big bucks.....Pumps
# posted by Pumps @ 9:20 PM 
