On July 4th of each year, millions of Americans fire up their grills for good food and good times. Only this time around, our country’s economy and the political establishment are in shambles. As of this recording, America’s national debt stands at over $13 trillion.
Time To File Class-Action Lawsuits Against Chase, Other U.S. Banks
Fed up with big U.S. banks? Join the ‘Break The Bank‘ movement on September 10th, 2010!
Goldman Sachs isn’t the only rotten apple on Wall Street. They weren’t alone in defrauding investors and America. JP Morgan Chase, along with other major U.S. banks, have made billions in ‘deceptive fees’ in the form of real-time mobile alerts, ‘selective transaction’ postings and other tactics.
For example, Chase’s real-time mobile alerts — until recently — weren’t exactly real-time. Overdraft alerts in the past were always sent the following business day. This feature wasn’t designed with the account holder in mind — only the bank. To their credit, the banks recently changed their deceptive practices. Unfortunately, they didn’t do this for you and me. Oh, no, it took the threat of legislation to change their dirty ways.
Another deceptive tactic employed by Chase and other U.S. banks is selective transaction posting. The banks essentially cherry-picked transactions to levy overdraft fees, choosing to post larger purchases first over smaller ones. How’s that for siphoning your money?
Of course, Wall Street and the banks will all deny any wrongdoing, but the facts clearly show otherwise. After trillions in taxpayer bailouts, and billions in deceptive fees, it’s time for U.S. banks to have their day in court, too.
William Black: The Great American Bank Robbery (at UCLA)
William Black, a former regulator and a guy who sent hundreds of people to jail (over the S&L scandal), talks in depth about bank fraud in America in this UCLA presentation. You’ll gain priceless, honest knowledge about our banks and the cause of their collapse in 2008.
Please watch, learn and share:
MSNBC’s Dylan Ratigan Exposes Con of U.S. Banks and Federal Reserve
Kudos to Ratigan for this segment. If you’re not familiar with how money really works in America (and around the world), watch this video for some insight.
Visit msnbc.com for breaking news, world news, and news about the economy
Wikileaks Video Shows American Troops Killing Innocent Civilians in Iraq
Is this what America stands for?
