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bailouts, bank settlements, Business ethics, Capital One, Politics, Politics and Money, Uncategorized

Politics & Money: John Boehner (R-OH) (heard of him)

This week: House Speaker John Boehner. Well, it’s about time. Tired of comenting on those small time Congresspeople. Now we’ve got some big fish taking Citibank PAC money! John Boy has taken $1,500 so far this year. Weak sauce! But hold on! In 2010 he swiped a cool 10 Gs from our favorite bank PAC.

Oh, and did you know that Speaker Boehner is totally for bank reform, but that he wants to get it right and not simply go for half measures. Also, He is sure that JP Morgan just had an oopsie and we should move on:

“‘I don’t believe there’s anything in Dodd-Frank (financial reform law) that would’ve prevented this activity at JPMorgan,’ said Boehner, the top Republican U.S. officeholder. He made the comments Friday in an interview for ABC’s “This Week.”"

Last week JPMorgan disclosed that it has suffered at least $2 billion in losses due to trades that went bad. The losses from derivatives trading could widen and have placed pressure on the bank to explain what happened as lawmakers and regulators tussle over rules for Dodd-Frank enacted two years ago.”

‘There’s no law against stupidity. No law against stupid trades,’ said Boehner.”

I hear ya John. I mean, whooo, if I was charged with a crime every time I lost a few billion of somebody else’s money, well, I don’t even want to think about it.

And Dodd-Frank? C’mon! What the hell good could that POSSIBLY do?

Go and lend your support to Speaker Boehner to help him end this partisan gridlock on financial reform which is totally not his fault.

Click here

July 19, 2012 · Tagged with citibank PAC money recipients 2012, citibank political donations, Citibank political donations 2012, John Boehner bank reform, John Boehner Ohio, Politics & Money

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Just how IS Citibank paying back its bailout money?

Posted by Hei Long · Leave a Comment

Here’s a hint:

“Last year, overdraft fees — charges when a customer writes a check, uses a debit card or withdraws money from an ATM for an amount larger than his account holds — reached nearly $24 billion, more than double the level of 2004, consumer advocates said. Nearly half of that comes from debit card and ATM overdrafts.”

Want to be further shocked? Then go ahead and read the whole article.

http://blog.taragana.com/business/2009/11/17/senate-hears-need-to-stop-banks-from-charging-abusive-overdraft-fees-742/

February 16, 2010 · Tagged with bailout, Citibank sucks, overdraft fees, repaying, TARP

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Great news. I have no loans with Citibank!

Posted by Hei Long · Leave a Comment

So, I wake up and go to make sure my Citibank loan is current, which I am sure it’s not since they continually misapply my payments and I am greeted with this:

“Loan Detail

You do not currently have any active or fully disbursed loans on our system.

If you have a new loan pending disbursement, you can view the loan disbursement schedule online.

If you have any questions, please contact our Customer Service Department at 1-800-967-2400, Monday through Friday, from 8:00 a.m. to 11:00 p.m., Eastern Time, or contact us by e-mail.

Thank you.”

This would be awesome news if not for the fact that it’s totally not true and I am sure that their credit reporting is my account as past due since that department seems to be very much on top of things. Ah, if only someone could make some kind of program that would let one Citibank department actually get accurate information from another. Hmmm, maybe they could Facebook friend each other!

February 16, 2010 · Tagged with bail out, Citibank sucks, fees, student loans, TARP, taxpayers

Uncategorized

Devil Bank Indeed

Posted by Hei Long · Leave a Comment

Look, whether or not you are prone to rail against the greed and incompetence of banks, you must admit that every bank, no matter how well run, will have plenty of unhappy customers and public detractors. Sometimes unfairly. But what does is say when, in a city with more banks per block than I have ever seen, your bank is the ONLY that has had protesters outside it’s main offices ever day forever. Well, at least ever since I arrived Hong Kong in February of 2009!

This is one of their milder signs.

I repeat. Citibank is the only bank that gets this. And there are plenty of other foreign banks here, so it’s not xenophobia. Seriously, how bad can you fail?

February 3, 2010 · Tagged with bail out, banking, bonuses, citibank, collapse, default, Hong Kong, loans, mortgages, sucks, TARP

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“It was like that when I got here.”

Posted by Hei Long · Leave a Comment

Well, that’s not actually what Sandy Weill, former Chief Robber at Citibank, was saying in a recent New York Times Article. But he was taking to heart some sage advice from one of America’s great thinkers and dodgers of blame, Homer J. Simpson. What old Sandy was saying is that he is not responsible for the total disaster that is Citibank because it was, like, TOTALLY fine when he left the room. It was the guys who took over for him that broke it AAND mom’s priceless heirloom vase!

I feel certain that the NYT could have written this story about anyone who has had any leadership position at Citibank and they would simply have to change the names of the principal subject. Then they could just reprint the entire…uh…what’s the opposite of a mea culpa?

Here’s some good analysis of why the NYT and most of the media have been a bunch of weak kneed little punks throughout this whole financial mess.

http://www.nakedcapitalism.com/2010/01/sandy-weills-je-ne-regrette-rein-at-the-nyt-falls-very-flat.html

The journalistic desire to present both sides of story prevents the big outlets from doing what’s right. That being, spending day after day lambasting every overpaid jerkoff who has anything to do with (insert any bank name). Hey guys, take a page from the Fox News playbook for me, just this once. Oh, also, there’s the little problem that most of the guys that currently, have or will inevitably someday sit on the boards of the Citibanks and B of A’s of the world, also went to prep school and/or play golf with plenty of the guys that sit on the boards of the companiy’s that own most of the newspapers in America. Funny coincidence. Ha!

Well, Sandy, if no one buys your lame ass attempt to dodge blame this time, there’s always good old Tibor.

January 18, 2010 · Tagged with bailout, blame, citibank, citibankrobbers, crooks, failure, Sandy Weill, sucks, TARP

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Spare some change?

Posted by Hei Long · Leave a Comment

Are you a small business owner? Have you heard about all the money Citibank and others got last year? Billions! Sweet, they’re loaded! So now, you’re thinking about applying for that loan you’ve been hoping for to get your business up and running again after your credit line was slashed for reasons unknown? Well, my friend, I suggest you thee to a Bank of China branch or perhaps a Standard Chartered. Hell, any bank in China really, cuz you ain’t getting from good old Citibank.

Nations 4 Biggest Banks Cut Lending by $100 Billion Since April.

I am fairly sure that that was not what I had in mind when I agreed to give them my tax money. Oh, wait…..I didn’t agree to that.

January 4, 2010 · Tagged with bailout, citibank, complaints, crooks, cuts, fees, lending, scams, small business, sucks, TARP, taxes

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Welcome fellow suckers!

Posted by Hei Long · Leave a Comment

I am not in the mood to write a lengthy mission statement, because, well, I have just gotten off the latest of many recent calls to Citibank to resolve a problem with my Citiassist student loan. Assist. Yes, I feel very assisted.

Let’s just say that the general theme of this blog will be to recount some of the fun and games people go through when dealing with Citibank. Even though we are “owners” of the bank. Yes, yes, we are owners. Awesome!

How about I simply share the experience of Susan from Wisconsin. Warning: when I am feeling uncreative I will probably just post stories like these. That could keep me blogging until about 2087.

“I am a co-signer for my son’s student loans (3) with Citibank. I have been making these payments to help him out financially since November 2008.

Originally, I mailed in check payments using the information Student Loan and I discussed over the phone. I even took the time to write specific information as to how the money was to be applied. More money was paid than was due, with the extra to be applied to the principal. Student Loan was not able to apply the payment correctly, even applied the money to the wrong loans. I have since gone to another payment option: telephone payments. The payments are still processed incorrectly. Most recent example: Nov 11, 2009 phne payment of 300, 100 to be applied to each loan with extra applied towards principal. The extra was applied to the interest.

I have asked monthly for a payment history for at least 4 months, and finally received it this past Wednesday, Nov 25. I have asked to speak with managers. One created an separate account number for me which only helps when the representative assisting me is competent. Despite using this account number, there are still payment issues.

I have asked for a payment coupon book or invoice so I know what is due each month and been denied. It has become increasingly difficult to talk with any representative over the phone because of the inconsistency in what I am asked and told.”

Have a personal or news story you want to share? Write me at citibankrobbers@gmail.com. I promise you it will get posted. At least until I realize I have vastly underestimated how many people are getting hosed.