R. Nader comments on R. Perot's Prophecies re:GM, Nafta

[raja]

Re: R. Nader comments on R. Perot's Prophecies re:GM, Nafta

Americans to my meager assessment are not anywhere near being pissed off enough to make your elected officials consider changing anything except perhaps in some cosmetic degree.

I agree . . . .
And in the midst of burgeoning of "green shoots" was probably not the best time to send out my letter

Consider me an "early adopter"

I'll try again later when the gov't issues food ration cards :eek:

[c1ue]

Re: R. Nader comments on R. Perot's Prophecies re:GM, Nafta

People forget that banks are businesses that depend on their customers. They will fail if people stop using them. Dont' you think that would get their attention . . . and the attention of the politicians that they support?

From my point of view, the banks have achieved military-industrial complex status: with government money, who gives a crap about retail customers?

Its not like the banks are lending now anyway; their primary forms of income appear to be interest paid by the Fed on deposits held and fees charged to people who hold money there...but both of these are insignificant compared to the wholesale gifting of vast sums of cash.

This cash does come from you, I, and every other taxpayer, but the only way to starve this path is to stop paying taxes. Merely switching banks isn't going to do it.

[raja]

Re: R. Nader comments on R. Perot's Prophecies re:GM, Nafta

From my point of view, the banks have achieved military-industrial complex status: with government money, who gives a crap about retail customers?

Its not like the banks are lending now anyway; their primary forms of income appear to be interest paid by the Fed on deposits held and fees charged to people who hold money there...but both of these are insignificant compared to the wholesale gifting of vast sums of cash.

This cash does come from you, I, and every other taxpayer, but the only way to starve this path is to stop paying taxes. Merely switching banks isn't going to do it.

What percent of the big banks income comes from retail customers?

[c1ue]

Re: R. Nader comments on R. Perot's Prophecies re:GM, Nafta

Raja,

Citibank revenues in 2008: $52.793B

http://en.wikipedia.org/wiki/Citigroup

Citibank bailout in 2009: $300B

http://seekingalpha.com/article/1075...-a-lot-anymore

You tell me which is more important.

[raja]

Re: R. Nader comments on R. Perot's Prophecies re:GM, Nafta

Raja,

Citibank revenues in 2008: $52.793B

http://en.wikipedia.org/wiki/Citigroup

Citibank bailout in 2009: $300B

http://seekingalpha.com/article/1075...-a-lot-anymore

You tell me which is more important.

17% of revenue --
Sounds important to me . . . .

What would the government's reaction be if there was a massive customer boycott? Would it be likely to give the bank even more stimulus?

Hopefully, government stimulus is an infrequent event, that will stop at some point. Ongoing retail revenue is . . . well, ongoing.

I still say, Boycott the Big Banks !