Ahrenl
join:2004-10-26
North Andover, MA
 ·Verizon FIOS
| reply to MrMoody
Re: Cartels
Banks? Seriously?
You paying your bank a lot of money for services?
Or do you have an interest rate that you signed extensive paperwork when agreeing to, that allowed you to purchase way over what your lifestyle would have otherwise permitted? There aren't many more competitive industry's than banking.. Fast food maybe? Many streets have more banks on them than fast food joints.
Drug companies? There's no cartel, it's just the patent laws. If a company charging more than the cost of production because of a patent is your definition of a cartel, then you missed mentioning all the rest of the world economy.
Teclo's, certainly, as they've a government provided wireline duopoly.
Oil, ehh, maybe, I would say refining in America is, but that's because of the tough laws enacted at votes request, because NO ONE wants a refinery in their back yard. They definiely keep utilization rates down, repairs elongated, and expansions behind schedule to raise prices. But there are still lots of competitors in fuel sales, including foreign nationals, so they can only go so far.. |
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MrMoody
Liberal Capitalist
join:2002-09-03
Smithfield, NC
 ·magicjack.com
 ·Embarq
| said by Ahrenl  :Banks? Seriously? You paying your bank a lot of money for services? You don't have a mortgage or any debts?
--
"It is a future in which globalization really does work ... and everybody winds up getting to be part of the third world." - William Gibson |
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Ahrenl
join:2004-10-26
North Andover, MA
edit:
September 21st, @03:49PM
| None that I didn't voluntarily sign up for, or that I would have been otherwise able to afford in this lifetime.
Interest is not payment for service. It's the cost of money. The banks have to pay it on the money they loan you too. |
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wdoa
join:2001-10-16
Spencer, MA
·Verizon Online DSL
| reply to Ahrenl
said by Ahrenl :Oil, ehh, maybe, I would say refining in America is, but that's because of the tough laws enacted at votes request, because NO ONE wants a refinery in their back yard. They definiely keep utilization rates down, repairs elongated, and expansions behind schedule to raise prices. But there are still lots of competitors in fuel sales, including foreign nationals, so they can only go so far.. NIMBYism or not, the oil companies have made it quite clear that they have no interest in increasing refinement capacity. As a matter of fact as Big Oil has consolidated they have systematically shutdown several refineries. It's basically legalized market manipulation. |
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itguy05
join:2005-06-17
Camp Hill, PA
| reply to Ahrenl
quote:
Banks? Seriously?
Yeah. Do you not have any idea the consolidation that's been going on in the past 10 years. Around here, we had many local banks that had varying fees and rates. Life was good.
Now we have 4 majors:
Commerce
PNC
Wachovia
Soverign
One or 2 locals, and a couple credit unions. If anything, the CU's are increasing as people get fed up with the BS at the Big Banks.
Just the other day, there was an article about new BoA ATM fees. The summary was that now that BoA did it, everyone else would be shortly.
And, shockingly enough their rates, fees, and other stuff are pretty much the same.
The same has been happening to the oil industry. Consolidation and collusion. |
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Ahrenl
join:2004-10-26
North Andover, MA | reply to wdoa
They've shut down sites, but they continue to INCREASE overall refining capacity at super-sites. But yeah, this is the biggest area of manipulation in commodities. |
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Ahrenl
join:2004-10-26
North Andover, MA
·Verizon FIOS
| reply to itguy05
Maybe in your town.
We have four somewhat different majors here, plus 100s of locals.
We Have:
BoA
Citizens
Soverign
Citi
Fees vary wildly, rates are set by a MARKET, not by the bank. The bank has to borrow the money they're going to loan to you. It's call the price of risk.
I'm sorry if your feeling underserved, banking wise, in your community. (I can't believe there's anywhere that's underserved banking wise) The military invented this interweb thing that allows you to borrow from any bank in the world, so don't feel hemmed in by your geography. |
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