Here I am a small business man trying to make a living. Recently I opened a new bank account, a business bank account mind you, at Bank One. This is my first time using BankOne. Well after this weekend I am pulling my money out of BankOne and advising all others to either avoid BankOne or to go somewhere else.
Here is what happened. Two weeks ago, I ordered checks. Well I went in to get my checks. Well they made a mistake and my checks weren't orderd. OK, an inconvenience as we all make mistakes. So I asked for a few temporary checks. Well, guess what? BankOne no longer issues temporary checks! That was it for me. I mean this is a business account! Where is the services. Oh they are happy to charge me for everything yet they can't issue a check!!! I mean what is a bank supposed to do?
Here they get cheap money from the government and then mark it up and lend it out. And boy do they lend it out. Banks no longer have the assets... it is all fractionalized lending and with interest rates so cheap and our government trying to inflate their way out of these economic hard times, banks are reaping it in! Of course a few might be a bit over extended with all the amazing derivative manipulations but that is a subject something for another time.
Anwyay, all banks really do is move money around in a computer. Big Deal!!! Woo hoo! Brain surgeons there I tell you. And, to top it off they believe that are so intellectual, so smug, so superior that they can tell you that they no longer offer a bank service. Hey, afterall, those temporary checks cost a few cents and are a manual operation! Obviously they can't afford that. If it doesn't go through a computer it just can't be done. Sad very sad. The proverbial shit is going to hit the fan one day soon.