J.I.A.H.N Posted June 10, 2015 Share Posted June 10, 2015 Hi All I would like to respond and start a post on HSBC's announcement to layoff workers, in these days of BIG bank profits, automation. I would like to have everyone keep and eye on HSBC and all large banks and corporations. I am not normally a person that starts revolts, or stands up, but I must say I am getting pretty darn mad with these corporations, taking our money and not giving us anything in return. Canada belongs to the people, only people have a vote, and if we don't vote, governments and corporations will never know what our true feelings are. If we don't hold these moguls and investment houses to a standard, they will just continue to take and take. In regards to HSBC, I suggest we watch and act if need be. By acting, I suggest we withdraw all moneys from HSBC if they choose to layoff from their Canadian offices. Let's not move until that day, let's watch. If they take from our economy, make them pay, those that do get laid off will then be recruited by other banks as we move our money to those other banks. This is something we should be doing as a course of being good citizens and voicing our displeasure. I do not have any friends or relatives that work at HSBC, but we as a society, must be aware and must act when our welfare is threatened. This is only one of many decisions that corporate will make in all fields of our lives and we must not allow them to tell you how you feel. A million drops of rain will make a river! We honestly must become more aware! We must not let our wants and needs be ignored! How can we expect others to protect us, if we will not act for them? Thank you for indulging me! Link to comment Share on other sites More sharing options...
Nuxfanabroad Posted June 10, 2015 Share Posted June 10, 2015 Back in the day, t'was the Bank of BC. Remember my bro would call it the "Bank of Bob Cratchet". Then HSBC swallowed it whole, like a small fish that it was. Had my first bank account there, in the White Rock branch..where my best bud's Mom worked. Wyland painted "The Whaling Wall" there in '85...Ahh, good ol' nostalgia... Link to comment Share on other sites More sharing options...
King Heffy Posted June 10, 2015 Share Posted June 10, 2015 Credit union for life. Profits (and jobs) stay in the community, and no fees on daily banking transactions. Made the switch 12 years ago and never looked back. Link to comment Share on other sites More sharing options...
Shift-4 Posted June 10, 2015 Share Posted June 10, 2015 Credit union for life. Profits (and jobs) stay in the community, and no fees on daily banking transactions. This! Link to comment Share on other sites More sharing options...
Heretic Posted June 10, 2015 Share Posted June 10, 2015 I'm with BMO, the bank that has all kinds of fees so they can make a $1 billion profit every quarter. I'm more concerned with the farming out of jobs over seas - like Disney just did with basically their entire IT department. So if this is a "boycott" thread - please boycott Disney as well. http://www.nytimes.com/2015/06/04/us/last-task-after-layoff-at-disney-train-foreign-replacements.html Link to comment Share on other sites More sharing options...
thejazz97 Posted June 10, 2015 Share Posted June 10, 2015 I am not normally a person that starts revolts, or stands up, but I must say I am getting pretty darn mad with these corporations, taking our money and not giving us anything in return. Principal + Interest? Link to comment Share on other sites More sharing options...
J.I.A.H.N Posted June 10, 2015 Author Share Posted June 10, 2015 Jazz97 Figuratively speak! Figuratively speaking! But, think of it this way, for the average person, who has a little bit in their saving account and the rest of their pay check in their checkings, they are getting, what, 0.025%? on their own money! Get this, and this is in a Credit Union as well! I once had gone on a holiday and pretty much drained my Savings Account. I think I had about $1.90 and the fees for the saving was more than my account had in it....guess what, no savings, left! Link to comment Share on other sites More sharing options...
nucklehead Posted June 10, 2015 Share Posted June 10, 2015 Principal + Interest? bahahahahahahaha! Thanks, I needed that Link to comment Share on other sites More sharing options...
J.I.A.H.N Posted June 10, 2015 Author Share Posted June 10, 2015 Get this also........Banks calculate how much money is in your accounts on any given day, then they calculate how much money is in accounts across the country, then they average that out and can lend that money out to credit card companies that they own, and charge back at 18.9%........But don't worry they are still giving you money! (0.025%) Then they add on there other banking charges and claim Billions in profits! Link to comment Share on other sites More sharing options...
thejazz97 Posted June 10, 2015 Share Posted June 10, 2015 Jazz97 Figuratively speak! Figuratively speaking! But, think of it this way, for the average person, who has a little bit in their saving account and the rest of their pay check in their checkings, they are getting, what, 0.025%? on their own money! Get this, and this is in a Credit Union as well! I once had gone on a holiday and pretty much drained my Savings Account. I think I had about $1.90 and the fees for the saving was more than my account had in it....guess what, no savings, left! Get this also........Banks calculate how much money is in your accounts on any given day, then they calculate how much money is in accounts across the country, then they average that out and can lend that money out to credit card companies that they own, and charge back at 18.9%........But don't worry they are still giving you money! (0.025%) Then they add on there other banking charges and claim Billions in profits! That's capitalism for ya. Link to comment Share on other sites More sharing options...
Dral Posted June 10, 2015 Share Posted June 10, 2015 I'm not going to stop watching Disney until they start making bad movies.... as for HSBC, if you're money is with them to begin with, I have no sympathy for you Link to comment Share on other sites More sharing options...
nucklehead Posted June 10, 2015 Share Posted June 10, 2015 That's capitalism for ya. I think you're confused. Although piracy and capitalism share some common properties at first blush they really shouldn't be confused with each other. Link to comment Share on other sites More sharing options...
RUPERTKBD Posted June 10, 2015 Share Posted June 10, 2015 Get this also........Banks calculate how much money is in your accounts on any given day, then they calculate how much money is in accounts across the country, then they average that out and can lend that money out to credit card companies that they own, and charge back at 18.9%........But don't worry they are still giving you money! (0.025%) Then they add on there other banking charges and claim Billions in profits! This is correct. The banks get rich by lending your money to third parties. They then have the audacity to charge you fees for doing something like using an ATM, or writing a check. FTR, I bank with one of the bad guys, (Scotiabank) but it's about loyalty. When I came back from a decade of being on the road with various rock bands, all of my credit history was too old to be of any use to me, when trying to get a loan. In spite of having a good paying job and several years of working for the same company, CIBC and the local Credit Union both turned me down for a 16k loan. Scotiabank gave me the money and now have my mortgage and LOC. Link to comment Share on other sites More sharing options...
Offensive Threat Posted June 11, 2015 Share Posted June 11, 2015 I am not normally a person that starts revolts, or stands up, but I must say I am getting pretty darn mad with these corporations, taking our money and not giving us anything in return. Canada belongs to the people, only people have a vote, and if we don't vote, governments and corporations will never know what our true feelings are. Corporations belong to the people, if they want, since they are owned by the shareholders. Who are the shareholders? You and me in general, if you own stocks, mutual funds, any type of retirement savings etc. The problem is that if any corporation puts it to the shareholders that they want to do something that will lower profits, even slightly, that will help people in a big way, the shareholders will vote it down. So thats how big bad corporations work. Its been established that anything other than maximizing profits will not be tolerated and if management tries to do this they will be replaced by those who will. At the behest of the shareholders ( you and me in general). credit card companies that they own, and charge back at 18.9%........But don't worry they are still giving you money! (0.025%) All major credit card companies (Amex, Visa, Mastercard) are owned by shareholders as well, not banks. Again their job is to maximize profits as demanded by the shareholders. If people are suckers and willing to pile up debts at 19% interest they will be more than happy to take your money. Edit: HSBCs stock price has been pretty well flat at around $25 per share for the last 4 years although they pay out a nice 5% dividend. I guess job cuts are being done to spur profitability as their lackluster stock price must be pissing off investors (you and me). Im not saying that the way things are is right. Im just saying this is how it is.Reform needs to be ongoing in banking and credit card rules and laws. outsourcing is a problem. High banking and credit card fees and interest rates are a problem. Public willingness to get into credit card debt is also a problem. These problems can be fixed or at least minimized. Its gonna take work. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.