From Joe Wade - Why ANYONE would ever risk keeping money in a Bank of America or Well Fargo account.
You are truly risking the eventual freezing of any funds you might have a Bank of Anti-America or OrWellian Fargo account.
The reason these “banks” are not afraid of such openly corrupt practices imposed upon their own customers, is because their board members and management know they will not suffer any criminal consequences.
The “hand-shake” agreements that are supposedly called “fines” are merely a “Cost of doing business” and pale in comparison with the profits made in such “too-big-to-arrest” schemes.
Ever wonder why proceeds of those “fines” never find their way back into bank customer accounts?
The reason this is “allowed” to continue is due to the huge derivative “assets” they hide in their financial disclosures which are nearing collapse due to the falling bond market, and bank regulators have no power to criminalize this behavior out of fear of threatening the “too-big-to-Fail” banking institutions.
Once all this “snaps,’ and depositors receive their notices that money in their Checking and Savings accounts cannot be fully withdrawn (effectively frozen) due to an FDIC declared bank “emergency,” wonder how the people will react when the ATM machines stop spitting out worthless dollars?