One Photograph Showing Why Big Banks Should Disappear Forever

[kpete]

FRI DEC 23, 2011 AT 08:47 PM PST
One Photograph Showing Why Big Banks Should Disappear Forever
byThe TroubadourFollowforWriting by David Harris Gershon

When an image strikes a chord so loudly that its reverberations spread quickly in our culture – as the one below is currently doing – it's instructive to take notice.

Allow me to offer the photograph in question, taken by gerryduggan:



What you see above is a notice from Wells Fargo having to do with a small trust owned by a relative of the "photographer" – specifically, it's a notice about actions the bank will be taking on the trust's principal given changing market conditions.

While this may be a notice informing the owner of changes that will benefit him/her, that's not the point. Instead, the point is to note the obviously concerning detail: the trust's owner was given until December 18, 2011 to object to the bank's action, when the notice wasn't mailed until December 19.

Much More:
http://www.dailykos.com/story/2011/12/23/1048464/-One-Photograph-Showing-Why-Big-Banks-Should-Disappear-Forever?via=siderec

[hobbit709]

1. That's exactly how the misbegotten offspring of a skunk and a hyena work.

[freshwest]

2. Same 'legal surprise' manuever being done by private contract government offices now.

And they enclose a list of your remedies, which use arbitrators they pay for, and always decide to back the original decision and not any law. It's literally impossible to change them once they get set on their course, and it's a slap in the face.

Although regarding the size of the bank involved, the size of the group being slippery has nothing to do with it. But nice to see a photograph about it.

Certified mail is also a joke as a notice, as one may not get to sign for it in time, and it doesn't mean that they mailed it in time, as most of the ones I've seen show demands for response up to two weeks before the postage stamp. I'm seeing this tactic used more and more now as 'serving notice.'

Language is becoming less useful every day.

[phasma ex machina]

5. Re: "literally impossible to change them once they get set on their course"

Never say never, but you better bring your army if you expect to change their minds. Don't have an army? You lose.

[drm604]

3. Surely this can't be legal.

Wouldn't a court grant some kind of extension based on the late notice?

[freshwest]

4. Please see reply #2. Only if you can afford to have representation that can fight for months,

You might get a court to listen somewhere along the line, very far along. But not likely. In the circus that appeals processes have become, with the powerful party being given more weight, such a legal point is ignored.

[Pab Sungenis]

12. Months? Try years.

We sued a trustee bank in 2002 and it took six years to wend its way through court until a settlement was reached. If a settlement couldn't have been agreed upon it would have been at least another year in court and lord knows how many years of appeals.

[freshwest]

24. IDK your case. I'm talking about things the AG sent to state supreme court within months.

I'm not at liberty to discuss the people involved or the issues. Nothing to argue about here.

[DCKit]

6. It'll get far more exposure this way.

Last time I took a picture like this, I was told that I couldn't email it to anyone at the Corp., as they were barred from accepting email.... or so I was told.

So lame, I actually busted out laughing on the phone.

[Scuba]

7. Favorite game of Republicans, like telling voters election day is later than it really is. n/t

[JNelson6563]

8. Once again, a picture's worth a thousand words.

This picture reminds me of another that is also worth at least a thousand words....

[abelenkpe]

10. And this:

[customerserviceguy]

9. Only we can make the big banks disappear

by trying as hard as possible to have nothing to do with them, and to heartily encourage others to follow. For instance, do you look at the backs of checks you write to local merchants? Do they do business with the big banksters instead of the small community banks and/or credit unions? Maybe suggesting to them that if they want their customers to support the local economy, they should do the same.

[abelenkpe]

11. If the owner of this piece of mail

Doesn't have the money to afford a lawyer to fight this then they need wide spread media exposure to fight the bank. Works sometimes.

Hopefully they will consider moving to a credit union in the future.

[marybourg]

18. Credit Unions are unlikely to be

able to serve as trustee. That requires specialized investing and legal expertise they are unlikely to be able to afford

[WillyT]

13. K & R !!!

:kick:

[valerief]

14. Is there any affordable recourse? Only a few people can afford to buy an Attorney General these days

[justiceischeap]

15. Sadly, you probably can't sue Wells Fargo anyway.

All the big corporations put arbitration policies into their fine print so they can't be sued. Arbitrators are usually chosen by the corporation that has the issue, so technically, the arbitrator is automatically on the corporations side because they pay the fee to the arbitrator.

Really, the only people you can sue these days are people and small businesses.

[valerief]

23. When you say people, you mean humans, not corporations, right? It's so hard these days to feel

relevant.

[Fire Walk With Me]

16. It has to stop. nt

[Trillo]

17. These are the folks that demand "honesty" from the rest of us? n/t

[proud patriot]

19. shameful

[Odin2005]

20. Evil. Pure evil.

[treestar]

21. How would we function without banks?

As to that case, that can clearly be dealt with in litigation.

[Trillo]

30. Adaptation.

Litigation? Fines are usually imposed as corporate penalties. With banks, they create money out of thin air. So, how can any monetary fine, big or small, be a disincentive?

A human analogy might be: The court sentences you to the collection X amount of your exhaled CO2.

[treestar]

31. They don't create it

They just keep it for you. For each depositor. And lend it out.

It's hard to imagine modern society on the barter system. Wouldn't work.

[Occulus]

32. "They just keep it for you. For each depositor. And lend it out. "

If you believe that is all banks do, I have some bottomland to sell you- just don't ask what it's on the bottom of.

[treestar]

33. Well, that's the basis of what they do.

How would we function in modern times without some type of banking system?

[boppers]

34. Generally, without regulated banking, unregulated banking happens.

Loansharks, "payday" lenders, "protection" rackets, etc.

[mahina]

22. A friend just quit her job with them

working as a 'credit specialist'. That title means, person who moves people who can't pay on their debt into more debt.

Oh, you want to try and pay off your loans? Let's see if we can't get you a bigger loan! With a little less interest! And your house and everything else you own as collateral! Sign here!

[meow2u3]

25. I can sum up the Wells Farto scam in one sentence

If you object to the the action we made yesterday to steal your home, we'll stop the foreclose on your house.

[BumRushDaShow]

26. The mailed-from zip is in "Olde City" neighborhhod of Philly

Home to the "INDEPENDENCE" branch of the bank where this probably came from (formerly Wachovia and before that First Union and before that Corestates and before that First PA) which is right across from Independence Hall.

It's the "American Way".

[Sherman A1]

27. File complaints with your State Attorney General

and every Federal, State & Local agency that might have jurisdiction. Many of them will be rejected, but it only takes one or two to help the offender achieve proper thought.

Of course calling the bank & telling them you are doing so, might just help them change their tune as well.

[Liberal_in_LA]

28. k&r

[annabanana]

29. Kicked, rec'd, facebooked and tweeted!

The more people that see this, the better.