191–200 of 465 posts
Republican senators want to move CFPB under congressional annual funding and a five-member commission.
Which sounds a lot like Defund the Bank Police.
https://www.cucollaborate.com/blogs/republicans-urge-quick-p...
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The last time they had a big-ticket punishment [0] for their psychotic corporate behavior, it was because they had created millions of fraudulent accounts. There is no way to keep that quiet or "get away with it," they just assumed they would not be meaningfully punished. What you've posted is completely wrong, but it's the answer to a question I had, which was why the fuck does anyone still bank with Wells Fargo? Th…
In the previous case, the company was fined $185Million. The CEO was personally fined $20M in a later lawsuits. The former CEO's total compensation was > $130M. That sounds much more like a cost of doing business, and a great risk. Heck, fines are classified as an expense for taxes.
At some point these are not fines, they just represent the governments' way of taking their share on the criminal revenues of these banks while they are guiding us straight into the next iceberg. And there is no incentive on either side to make it stop.
When it comes to solutions, I'm reading that the system has to burn to the ground or worse even on HN now... I'm personally of the mind that systems can only change when incentives exist in alternatives. As much as HN dislikes crypto, Bitcoin is one which has taken a principled approach from the start and its community and incentives always presented it as a way to opt-out of the current financial system backed by central-banks/governments (powered by traditional banking). If banks stop being provided with ways to infinitely create debt with politicians behind them promoting it to be able to pretend that everything is fine economically under them, you might see things change... but for this we can't continue playing their game by their rules. We need to opt-out.
If other radical and non-violent ways to solve this exists I am willing to listen and study them... crisis after crisis, I'm becoming more and more cynical about it.
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I can’t even afford a home right now on a tech salary with sky high rent paying off my landlords 2% refi’d mortgage and student loans making it impossible at 6-7% fed interest rate hikes and inflated home prices after the insane COVID housing price bubble increase. I feel like life won’t start for another 5+ years for people like me, unless we gamble on being underwater on an inflated mortgage entering at the peak of…
Same here. I wasn't financially prepared to buy a house at insanely inflated Covid prices while interest rates were down in the 2% range, and I'm not excited to to buy a house at 7% while prices are still substantially higher than pre-Covid levels. Meanwhile rentals for anything other than a tiny box are just as expensive as a mortgage at those rates. I don't understand how people who do not have 6-figure tech salari…
Hey, there is!
https://violationtracker.goodjobsfirst.org/parent/wells-farg...
Current Parent Company Name: Wells Fargo
Penalty total since 2000: $22,081,458,643
Number of records: 229
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I get what you mean, but what's the alternative? How should you behave if you're exempt from normal social boundaries because of your personal tragedy? Shout at random people? Throw things? Punch some guy in the face? Seems to me it's better to try and be kind, and treat others right despite your horrible situation. The person you're treating cruelly because of your personal trauma could easily be going through a tra…
> I get what you mean, but what's the alternative? How should you behave if you're exempt from normal social boundaries because of your personal tragedy? Shout at random people? Throw things? Punch some guy in the face? I don't mean to put words in obblekk's mouth (text box) so what I perceived them as meaning is: I don't think the person you're replying to was advocating for direct person-on-person action. When we s…
Because if total salary income were uniformly distributed across the population, the average would be like $80,000 a year.
So what's the least-evil bank that has a network of cash machines everywhere? (Yes, still need cash for certain things) Edit: also with a non-buggy mobile app? My credit union has the worst app. They don't seem capable of improving it... probably outsourced.
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I can’t even afford a home right now on a tech salary with sky high rent paying off my landlords 2% refi’d mortgage and student loans making it impossible at 6-7% fed interest rate hikes and inflated home prices after the insane COVID housing price bubble increase. I feel like life won’t start for another 5+ years for people like me, unless we gamble on being underwater on an inflated mortgage entering at the peak of…
I don't mean to marginalize your frustration, but I feel like you may have unrealistic expectations. First, you have a tech industry salary, which is probably at least twice as much as the median wage, if not more. Not only is it white-collar work with practically no risk to your physical safety (assuming you exercise, eat right, etc), but monetarily this puts you _way_ ahead of most people right out of the gate. If…
Ah yes, glamorizing the hustle. You'll surely make it if you just "work hard enough," wink wink. Working a 9-5 career is (and has been) a net negative ROI for at least 2 decades, if not more. To be completely honest, this is why I'm on HN: doing your own startup is one of the few relatively low risk gambles one can take.
Thinking that it's okay for an entire generation (millennials), scratch that, two generations, (also gen-Z now)—that literally can't afford housing where they work is beyond societally harmful. Birth rates will continue plummeting, among other things.
This is all happening because Obama didn't have the balls to just let the shoddy banks crash and burn, and we continued QE for around a decade to alleviate blowback from 2008. This, combined with other factors (a lax policy w.r.t. foreign investments in real estate), will screw us in the long run.
Earlier quoted context omitted.
I can’t even afford a home right now on a tech salary with sky high rent paying off my landlords 2% refi’d mortgage and student loans making it impossible at 6-7% fed interest rate hikes and inflated home prices after the insane COVID housing price bubble increase. I feel like life won’t start for another 5+ years for people like me, unless we gamble on being underwater on an inflated mortgage entering at the peak of…
I don't mean to marginalize your frustration, but I feel like you may have unrealistic expectations. First, you have a tech industry salary, which is probably at least twice as much as the median wage, if not more. Not only is it white-collar work with practically no risk to your physical safety (assuming you exercise, eat right, etc), but monetarily this puts you _way_ ahead of most people right out of the gate. If…
This is exactly his point. If he can't make it with what he has going for him, who can?
> You only options are to accept that and adjust your budget/income/location appropriately, or opt to rent forever, which is not at all a bad thing since owning a primary residence is never an investment. (Although there is room for nuance here that I won't get into.)
You only list two options: (1) budget better, (2) give in to renting forever. I agree that, if the above poster wants a better shot, he should do his best to budget well. However, he should also help support policies that tax the dickens out of people who own more than their primary residence and maybe 1-2 other properties. There is more at stake here than just his own situation.