Posted on 10/04/2011 1:55:45 PM PDT by Nachum
When you deposit money with the bank, it becomes the bank's money, as a matter of law.
Obviously, it behooves them to honor your request to withdraw funds, but there is a reason for the FDIC apparatus. If a bank is unable to return your deposit (the bank goes insolvent), you do NOT have a cause of action against the bank, to "get your money back."
It doesn't come out of one of the drives on the computer.
It comes out of the printer... ;)
I have linked a direct link to the video in my post @#75. Also, this blog is not the original source, SHTFPlan would appear to be, although there are many sites now carrying the article. Hope that helps.
Schumer started the 2008 Indymac collapse, remember, which ballooned into the run on the Fed... 6 weeks out from the election.
Actually if it is true, I would not consider it a bank run...just free market forces at work.
“Turn on your printer.”
D’OH! Thanks ;-)
bflr
WOW, it took fifty posts for someone to get it.
This is a BANK RUN.
People are so mad that they want to GET out of BOA, and apparently, more than the bank can handle. Was reading about this yesterday or Friday at ZeroHedge, where this exact outcome was predicited when the BOA did the debit fee nonsense.
This is a bank run, 2011 style, people.
Lets see, three days of not being able to access your account on line, and then you can’t get into the bank.
http://www.zerohedge.com/news/bank-america-site-down-third-day-row
This is quite believable, but I guess keeping Freepers in the dark is just SO much more important. Let’s wait until the MSM is willingly to tell us what is really going on.
No it is not a bank run.
It is people doing exactly what Durbin told them to do. Vote with their feet.
And since that is the case, it is the free market at work.
So, why is Bank of America insolvent then?
Why do they need to increase their fees?
Why has there online site been down for three days, then?
Mattresses will rise again! I say, I say the Mattresses will rise again!
As this thread demonstrates, you should be able to sit at your computer and if you need to, quickly access $100 or more very easily. Me? I have several spots with that much “emergency” money stashed in the vehicles and around the house. Although $100 barely fills the tank in the truck anymore.
I do think it is a bank run.
And BOA does not have the funds to answer for all of the withdrawals after their disater over debit cards.
People can’t get to their funds on line, where else are they supposed to go? They go to their branch. Now, the branch is DENYING them access.
BOA is in trouble. It is getting worse, and it is a run.
I don’t think that the press will tell us the truth, do you?
So, if anybody bothers to look at the video, it’s one dude being interviewed who’s apparently from a busload of whackadoos bussed in to create some kind of disturbance. You can see the bus and about 30 people milling around next to the bus. No other people visible. No lines. No actual bank customers. No nothing. There’s some barricades visible but no “SWAT” police visible or any other police visible for that matter.
Despite the dude’s claim, probably NONE of the people that were bussed in have an account at BofA.
No bank run. No event. No nothing. Just a pathetic staged event in which they couldn’t even get a single member of the main stream media to show up at.
a google web search of the keywords st louis swat bank limited to the last 24 hours gets 19,000 hits, while a google news search of the same 4 words gets 0 hits. not even 1 local st louis news outlet.
Durbin may not have be the one “start rumors.” (We don’t know if this is a rumor or not.)
But, being the commie he is, he did openly call for a run on the Bank of America.
He did his part for the “revolution.”
That’s kinda my take on the video.
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