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Safe deposit boxes aren’t safe (2019)

nytimes.com

41–50 of 162 posts

Re: Safe deposit boxes aren’t safe (2019)

#41

Earlier quoted context omitted.

On the contrary, I wish the media would not present Wells Fargo as a uniquely bad actor. The only difference between them and the other big banks is that Wells Fargo got caught. Reading an article like this, you might think you would be better off with BofA or Citibank or Chase, but that’s not the case. They are all the same — constrained by a banking culture and a regulatory regime that forces them to all be the sam…

I didn't take it that way, I just thought when they were describing WF they didn't mince words, which I appreciate. I didn't see any implication that others are better. In some way, saying they all do it would dilute the criticism more.

Everyone in the media knows that when you single out a particular company, or person, or politician for criticism it makes their competitors look better. Nobody who works at a major news organization is unaware of this.

Re: Safe deposit boxes aren’t safe (2019)

#42

The Banks would prefer you to pay a fee so that you can donate your valuables to that Bank. If you don't control those assets, they are no longer yours. You doubt that? Just try to access that safety deposit box when that bank is closed for the night. One day that Bank will close for the night and not reopen for quite a while if at all. What will you do then?

If I go far away on holiday the assets in my home are no longer under my control.

Re: Safe deposit boxes aren’t safe (2019)

#44

Wells Fargo — which in recent years has admitted to systematically ripping off customers with fake accounts, hidden fees and a variety of unwanted and unnecessary financial products — didn’t follow that law. I normally don't like the NYT and I know it continues to get worse, but we need more of this calling our bullshit plainly. I wish we had this in the Canadian media, most of our big companies (and all our banks) a…

[deleted]

Re: Safe deposit boxes aren’t safe (2019)

#46

The Banks would prefer you to pay a fee so that you can donate your valuables to that Bank. If you don't control those assets, they are no longer yours. You doubt that? Just try to access that safety deposit box when that bank is closed for the night. One day that Bank will close for the night and not reopen for quite a while if at all. What will you do then?

[deleted]

Re: Safe deposit boxes aren’t safe (2019)

#47

Earlier quoted context omitted.

I didn't take it that way, I just thought when they were describing WF they didn't mince words, which I appreciate. I didn't see any implication that others are better. In some way, saying they all do it would dilute the criticism more.

Everyone in the media knows that when you single out a particular company, or person, or politician for criticism it makes their competitors look better. Nobody who works at a major news organization is unaware of this.

This is an absurd take. What would you have them do aside from call out a publicly bad actor explicitly? Seems like you are bending over backwards for a bad take.

Re: Safe deposit boxes aren’t safe (2019)

#50
Nothing is 100% secure, but I have opted for a high-quality gun/fire safe that's bolted to the foundation of my home (in a gated community), and protected by multiple monitored alarm systems and cameras. The safe has a lot more room than any bank's box would, it's cheaper in the long-run, and IMHO (especially after reading the fine article) more secure. Also, it's got a S&G spin-dial lock that I trust a lot more than any electronic garbage.
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