Chalk up one more loss for market competition.
Capital One to buy Discover Financial in $35B stock deal
101–110 of 127 posts
Re: Capital One to buy Discover Financial in $35B stock deal
#102Earlier quoted context omitted.
That's what he said. There's nothing wrong with it, either. And don't bother pretending to think that he wants the government to use his opinion as justification. That's obviously where you're going, so don't insult the rest of us by continuing.
I'll continue, this is absurd. No, the government shouldn't be stepping in to stop this. The FTC should evaluate this deal just like any others and possibly slow/stop it if it finds major anti-trust issues.
The FTC is a government agency. Did you think I was asking for Joe Biden to personally issue an executive order against this?
Re: Capital One to buy Discover Financial in $35B stock deal
#103I live in DC and friends who work for Capitol One call it "the Google of the east" because of putative tech savvy and innovation. Can anyone verify this claim?
Red Ventures also calls itself "the Google of the east".
Re: Capital One to buy Discover Financial in $35B stock deal
#104I live in DC and friends who work for Capitol One call it "the Google of the east" because of putative tech savvy and innovation. Can anyone verify this claim?
They’re a bank that likes to pretend they’re a tech company. In some ways, they’re right: they embrace a lot of “hard tech”, are all-in on things like cloud, and definitely value engineering skills which shows through their well-regarded program for new engineers. However at the end of the day, they’re also still a bank and suffer from the same bureaucracy and politics that every other bank does.
Re: Capital One to buy Discover Financial in $35B stock deal
#105I live in DC and friends who work for Capitol One call it "the Google of the east" because of putative tech savvy and innovation. Can anyone verify this claim?
They’re a bank that likes to pretend they’re a tech company. In some ways, they’re right: they embrace a lot of “hard tech”, are all-in on things like cloud, and definitely value engineering skills which shows through their well-regarded program for new engineers. However at the end of the day, they’re also still a bank and suffer from the same bureaucracy and politics that every other bank does.
The first sentence made it sound like you were gonna go on a desudesudesu.io rant
Re: Capital One to buy Discover Financial in $35B stock deal
#106Earlier quoted context omitted.
Oh yeah, AmEx, the company that detects fraud on your account, cancels it, and then DOESN'T NOTIFY YOU. So you start getting notifications from vendors that they canceled your orders right before Christmas, because of trouble with your card. When you call AmEx and ask why the fuck you weren't notified of fraud on your account, they say (and I quote): "Oh we don't do that. We wait for the customer to get in touch with…
I’m sorry you had that experience, it seems like it really affected your holiday. I have been proactively notified about fraud by Amex, Discover, as well as other banks. Amex seems to be the loosest with allowing questionable but valid purchases, and my Visa cards the strictest.
Maybe they woke up to how bad that policy was.
Here's another one that relegated my AmEx card to a drawer: To redeem airline-ticket benefits, AmEx forced you to use their own Web portal to book your flights. This inept portal considered LaGuardia and Newark a connection. As in... you can walk from a terminal in one to a terminal in the other to catch the next leg of your flight.
WTF.
Re: Capital One to buy Discover Financial in $35B stock deal
#107Earlier quoted context omitted.
Not to mention that retailers are getting screwed harder all the time. I thought that the major cards had set fees across their brands, but NO: retailers are screwed at all different levels by different ISSUERS. Apparently Capital One is one of (if not THE) worst, coming in at something obscene like 4.5%. That's the entire profit margin of some businesses. At least some places like L.A. are taking tiny steps to preve…
I think they should outlaw the clause in the CC contracts that forbids discounts for cash payments.
The Obama administration did! That's why these have returned.
I was disappointed by many of the "reforms" passed under Obama, but this one in particular and some other banking-related ones stand out as truly helpful.
Re: Capital One to buy Discover Financial in $35B stock deal
#108Earlier quoted context omitted.
> Yes. Usury law serves this purpose, to draw a line. I do not understand what you're trying to say here. We're talking about - putting an upper limit on the interest rate for loans (which is what said usary limits _are_), and - if that means some people cannot get loans, and - if that inability to get a loan is really helping that person The fact that usary law exists and puts a limit on the interest rate for loans…
The logic is, our ancestors and our current laws are there for a reason. And to push aside ursary laws, and their logic without reading in depth the logic as to why, is throwing away valuable, empirically derived, real world research. And sometime the corporate body needs externally deroved guardrails. That said, secured credit cards exist. No one need be given credit, to have a credit card. And secured can lead to u…
I feel like we're talking past each other here.
What I'm saying is that it's hard to tell if the usary limits actually provide a benefit to the borrowers. And I'm discussing the topics related to figuring out if they do or don't.
And what you appear to be saying is that we need those limits because we've always had those limits, and because limits are good. And that the limits don't limit people because secured credit cards exist. Which doesn't really speak to the question I was trying to raise... of whether or not those usary limits provide the benefits they are supposed to.
Re: Capital One to buy Discover Financial in $35B stock deal
#109I live in DC and friends who work for Capitol One call it "the Google of the east" because of putative tech savvy and innovation. Can anyone verify this claim?
Lots of ex-Amazon directors and VPs, FWIW.
Re: Capital One to buy Discover Financial in $35B stock deal
#110I live in DC and friends who work for Capitol One call it "the Google of the east" because of putative tech savvy and innovation. Can anyone verify this claim?
I'd say so.
I can't think of a similarly large company HQed out east with as large a tech presence. Lots of internal tools and projects have been OSSed or productionized like at Google as well