"Take a Number, Wait Your Fucking Turn. We're Nationalized Citibank"

Welcome to your future.

Comments

[Warren]

Uhg. Almost as unfunny as the stuff produced by reason.tv

[jtuf]

Hillarious.

[SpongePaul]

Funny and sadly thats about how it would run.

[Alan Vanneman]

However lame the service at a nationalized Citibank would be, it wouldn't be as lame as the service at a bankrupt Citibank, now would it? And who kept Citibank from going out of business? Oh, that's right! The fucking federal government!

[Taktix?]

However lame the service at a nationalized Citibank would be, it wouldn't be as lame as the service at a bankrupt Citibank, now would it?

That's why they have these things called "other banks."

[Citizen Nothing]

"And who kept Citibank from going out of business? Oh, that's right! The fucking federal government!"

And there we have the nub of the problem. Thanks, A.V. for your clarity!

[Libertymike]

Let us be real-the Citibanks of the world have been able to treat folks horribly for years and years precisely because they had gotten so big and precisely because the legal and regulatory framework was designed in their favor, including monstrous barriers to entry.

Lots of reasonoids seem to forget that the growth and sheer size of many multinational outfits, particularly in the banking and other financial sectors, existed, in large part, because the law was made and bent for them. It was not because of their ability to make a superior mouse trap or their outstanding customer service.

[Cool Cal]

Can someone explain to me what the real concrete problems with citibank are, and how exactly they treat people "horribly"? I'm willing to listen, but I've been a citibank customer for about ten years now and I've yet to be raped in the butt or any such thing. In fact, the one time I had an opportunity to be fucked over by the bank - someone got a hold of my pin # via a scam and took out well over the amount in my account at the time - they were amazingly accommodating. I swiftly got all my money back, and got a new account set up just as fast. So, I'd really like to know, is this all anecdotal evidence from just some rube, or do I just have really low expectations and do really good banks give free blow jobs with each deposit?

[Lefiti]

Welcome to your future.

Fuck you, you right-wing fanatic fucks. I'm glad my future is slipping out of your hands.

[Dormouse]

This isn't something I normally say, but that would have been better with less cursing. It seems whoever made that never heard of subtlety.

[Libertymike]

CoolCal-

Try http://www.consumeraffairs.com/finance/citibank.htm

In addition, how about its requirement that one who presents a citibank check for payment who is not an accountholder with citibank must pay it $6.00 to cash the check and present one's social security number?

[Spambot]

"Lots of reasonoids seem to forget that the growth and sheer size of many multinational outfits, particularly in the banking and other financial sectors, existed, in large part, because the law was made and bent for them. It was not because of their ability to make a superior mouse trap or their outstanding customer service."

Ummm actually I think most folks here of the libertarian mindset understand perfectly this concept and it is the basis of why most of us are not in favor of massive regulation because it does not give "power to the people" as the average person that advocates for these regs wants. It is a case of "don't throw me in the briar patch" by large corps. They well understand how to use the govt. to squeeze out the competition.

[Silentz]

Actually Alan, YOU kept them in business. YOUR money, and mine and our kids', and our grandkids'. So when you tuck in your little ones tonight, thank them for helping keep Citi alive!

[PapayaSF]

Libertymike: That's probably due to something I learned ages ago, when I had a somewhat dodgy employer who regularly wrote rubber checks. If you deposit a bad check, the bank says "Sorry, bad check, you don't really have that money in your account." But if you cash it, they're out the money and they have to go after whoever gave you the check, which is obviously more difficult. The fee is probably an attempt to cover that contingency.

[Bronwyn]

PapayaSF, if the check is written on a citibank account, they know whether or not there are sufficient funds. Ergo, no need for the fee.

[Seward]

Alan Vanneman,

Banks have been going bankrupt in this here republic for well over two hundred years. The fact that we won't let these banks go under is one of the most significant drags on our economy; we are simply delaying the inevitable shake up, restructuring, etc. that would come about after they leave the field (which they wouldn't really do anyway - they'd be taken over by someone else in part or in whole).

The surest way to make sure that the U.S. no longer has a banking industry which is the world leader is to try to protect it from change.

[Silentz]

Right Bronwyn, except what are you gonna do? Threaten to close your account? Not cash any more checks at Citibank?

The reason the banks charge that fee is to discourage you from doing so. You're taking up teller time from the paying folks and you're not making the bank any money. They'd rather have you go deposit the money in your own bank, or just open an account there to avoid the fee.

[Bronwyn]

True...

My main bank-fee gripe is the monthly charge they levy on me for using Quicken. BankOne - er, Chase - used to charge $10 or $15. USBank charges $5, I think.

I'd love for someone to explain the justification for that.

[David]

I'd love for someone to explain the justification for that.

It's the same explanation as most "Why are the charging me for this?" questions. Because they can.

[Bronwyn]

Yeah, and that's pretty much the explanation we were given when we asked about it, too.

Why are you charging me to use software you neither created nor provide?

"We just do."

Uhhhh huh

[joshua corning]

And who kept Citibank from going out of business? Oh, that's right! The fucking federal government!

ummm so citi bank sucked and thank god the US government took it over...cuz it would be horrible for a sucky bank to go out of business?

Wow, Obama voters really are retarded

[Nittany Cat]

"In addition, how about its requirement that one who presents a citibank check for payment who is not an accountholder with citibank must pay it $6.00 to cash the check and present one's social security number?"

That's NOTHING!

I was living in Atlanta and gave my sister a check (for about 6 hours of work I did for Kelly Services) and SUNTRUST wouldn't let her deosit it into her account unless I showed up in person and provided ID. A fucking check for $60 from a global corporation drawn on a major US bank being deposited in one of their own customer's accounts (my sister's rich BTW).

Yo, fuck SunTrust!

[Charles]

What's weird to me is that, as this video shows, everyone realizes as soon as the government gets their hands on something, it turns to pot. Yet, had Bush or Obama or whoever done the correct thing (sit back and let this recession ride itself out), the same people would be freaking out because the government refused to "do something."

[Bronwyn]

I think the "do something" many Obama voters were looking for was, "pay my mortgage."

[Meredith]

Anyone else remember the old Citibank ads (when it was just a NY bank, I think) with Rod Serling, talking about "The Nightmare of Banking?"

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