blueskies Posted November 1, 2007 Share Posted November 1, 2007 I saw two billboards with the phrase, "Banks Hate Us."What does that mean? What are they advertising? I saw one of the billboards before taking the downtown destinations exit on i-10. I think the other one might have been off of 290. Link to comment Share on other sites More sharing options...
flipper Posted November 1, 2007 Share Posted November 1, 2007 I saw two billboards with the phrase, "Banks Hate Us"What does that mean? What are they advertising? I saw one of the billboards before taking the downtown destinations exit on i-10. I think the other one might have been off of 290.Dave Ramsey?flipper Link to comment Share on other sites More sharing options...
memebag Posted November 1, 2007 Share Posted November 1, 2007 I saw two billboards with the phrase, "Banks Hate Us"What does that mean? What are they advertising? I saw one of the billboards before taking the downtown destinations exit on i-10. I think the other one might have been off of 290.Sounds like an ad for a consumer bank. Link to comment Share on other sites More sharing options...
Jeebus Posted November 1, 2007 Share Posted November 1, 2007 I saw two billboards with the phrase, "Banks Hate Us"What does that mean? What are they advertising? I saw one of the billboards before taking the downtown destinations exit on i-10. I think the other one might have been off of 290.Maybe from one of the local Credit Unions? Or maybe a really organized and arrogant band of bank robbers? Link to comment Share on other sites More sharing options...
gwilson Posted November 1, 2007 Share Posted November 1, 2007 Banks do hate us. If they loved us, they wouldn't build the system to screw us at every turn and leave us as slaves to them. Link to comment Share on other sites More sharing options...
Vertigo58 Posted November 1, 2007 Share Posted November 1, 2007 Ad agencies have just run out of ideas so its just more "anything to get noticed" advertising. I say burn it. > Link to comment Share on other sites More sharing options...
westguy Posted November 1, 2007 Share Posted November 1, 2007 It could be a mattress ad (if anyone still stores their money there). Link to comment Share on other sites More sharing options...
sevfiv Posted November 1, 2007 Share Posted November 1, 2007 Banks do hate us. If they loved us, they wouldn't build the system to screw us at every turn and leave us as slaves to them.Indeed. Long live the credit union. Link to comment Share on other sites More sharing options...
gwilson Posted November 1, 2007 Share Posted November 1, 2007 Indeed. Long live the credit union.They are only somewhat better. So long as Americans (and the world) continue to buy things they can't afford, banks will still screw us.It is difficult, however, to stop living on credit, when goods are so expensive and we are constantly sold things we don't know.My desire for a Maybach isn't inherent, it has been taught to me. Link to comment Share on other sites More sharing options...
memebag Posted November 1, 2007 Share Posted November 1, 2007 They are only somewhat better. So long as Americans (and the world) continue to buy things they can't afford, banks will still screw us.I've had banks and credit unions. None of them have ever screwed me. What are you talking about?It is difficult, however, to stop living on credit, when goods are so expensive and we are constantly sold things we don't know.It's really easy. Don't buy stuff you can't afford. Link to comment Share on other sites More sharing options...
gwilson Posted November 2, 2007 Share Posted November 2, 2007 If you've ever bought anything on credit, you've gotten screwed. Unless it was 0% and you managed to pay it off before the rate adjusted. Even those programs are designed to make money because only a small percentage of borrowers pay off in the time allowed. They also used deceptive and often illegal trade practices to CAUSE breaches of contract on your part such as changing due dates, not posting payments until after they are late, just to name a few.If you haven't been affected by any of this, then you are the very lucky exception to the rule.As far as your "very easy" bit, sure. But 99.8% of the buying public can't afford a new car without borrowing. An even higher percentage cannot afford homes without borrowing. Most home electronics, furniture and clothing are purchased by borrowing. Very few things save for bills and groceries are actually paid for cash by the vast majority of the buying public. Link to comment Share on other sites More sharing options...
blueskies Posted November 2, 2007 Author Share Posted November 2, 2007 I passed by the billboards again today. it's bugging me. I have done a google and yahoo search. nothing tells me what it means. I hate this type of marketing!! Link to comment Share on other sites More sharing options...
memebag Posted November 2, 2007 Share Posted November 2, 2007 If you've ever bought anything on credit, you've gotten screwed.Huh? We must have different definitions of what "getting screwed" means. I bought my house on credit, but there was noting "screwed" about that. If a bank hadn't loaned me the money, I wouldn't have been able to buy the house. Are you opposed to charging interest on religious grounds or something?As far as your "very easy" bit, sure. But 99.8% of the buying public can't afford a new car without borrowing. An even higher percentage cannot afford homes without borrowing. Most home electronics, furniture and clothing are purchased by borrowing. Very few things save for bills and groceries are actually paid for cash by the vast majority of the buying public.Somehow, banks haven't been able to make me buy things I can't afford. I must have some special anti-bank-screwing shield around me. Link to comment Share on other sites More sharing options...
ProHouston Posted November 2, 2007 Share Posted November 2, 2007 I passed by the billboards again today. it's bugging me. I have done a google and yahoo search. nothing tells me what it means. I hate this type of marketing!!That means it's working. Look, you started a thread on a very popular forum and now we all know about it even though we haven't seen the billboard. Brilliant marketing! Link to comment Share on other sites More sharing options...
gwilson Posted November 2, 2007 Share Posted November 2, 2007 Huh? We must have different definitions of what "getting screwed" means. I bought my house on credit, but there was noting "screwed" about that. If a bank hadn't loaned me the money, I wouldn't have been able to buy the house. Are you opposed to charging interest on religious grounds or something?Somehow, banks haven't been able to make me buy things I can't afford. I must have some special anti-bank-screwing shield around me.You're looking at it a bit idealistically. You can't afford your house, that is why you have a mortgage. The concept of affordability has changed from what you can buy, to what you can afford the monthly payments on. Great, you can afford the monthly payments on your house, and in the long run, you'll have paid the price for it three times over. That is getting screwed.You're right, banks don't make you buy things. That is a societal thing, and believe it or not, we are all ingrained with it. Unless you take the bus or ride a bike everywhere, you've bought things you don't need and can't afford to buy. I am not surprised that you don't consider financing getting screwed. It is the modern paradigm of buying. Especially considering most things (save for groceries) are too expensive to pay for cash (homes, cars, electronics, furniture, etc). Link to comment Share on other sites More sharing options...
blueskies Posted November 2, 2007 Author Share Posted November 2, 2007 You're looking at it a bit idealistically. You can't afford your house, that is why you have a mortgage. The concept of affordability has changed from what you can buy, to what you can afford the monthly payments on. Great, you can afford the monthly payments on your house, and in the long run, you'll have paid the price for it three times over. That is getting screwed.You're right, banks don't make you buy things. That is a societal thing, and believe it or not, we are all ingrained with it. Unless you take the bus or ride a bike everywhere, you've bought things you don't need and can't afford to buy. I am not surprised that you don't consider financing getting screwed. It is the modern paradigm of buying. Especially considering most things (save for groceries) are too expensive to pay for cash (homes, cars, electronics, furniture, etc).people that are not homeowners are either living with a friend or family member or they are renting. renting=paying into someone else's equity. Why pay into someone else's equity? the average person cannot pay for a house without getting a mortgage. getting a mortgage doesn't screw you. you screw yourself by either paying into someone else's equity or by getting a house that is over your budget.unfortunately, taking the bus or riding a bike isn't as easy in Houston as it is in other cities such as New York or Boston. that's a whole other topic though Link to comment Share on other sites More sharing options...
moni Posted November 2, 2007 Share Posted November 2, 2007 FWIW, I love my bank! They are very consumer friendly. 1st New Mexico Bank. Link to comment Share on other sites More sharing options...
millennica Posted November 2, 2007 Share Posted November 2, 2007 Somehow, banks haven't been able to make me buy things I can't afford. I must have some special anti-bank-screwing shield around me.My feelings exactly. Except for mortgages that I always pay off early, I haven't been persuaded to purchase things I can't afford or that I have to finance and pay over a long period, this notwithstanding the fact that society aided and abetted by capitalism and consumerism does its best to ingrain in its members the need to buy things. Link to comment Share on other sites More sharing options...
crunchtastic Posted November 2, 2007 Share Posted November 2, 2007 It is the modern paradigm of buying. Especially considering most things (save for groceries) are too expensive to pay for cash (homes, cars, electronics, furniture, etc).I think there's a distinction to be made here between consuming and transacting. I don't see anything inherently evil in the tools of transacting (credit). This is why Dave Ramsey makes me crazy with his simplistic sound-biting to the lowest common denominator. Credit bad! Credit-user dumb! The modern way in which we're compelled to consume is not the same thing as the concept of affordability. Affordablility means your ability to cover your obligations, and whether that's in hard currency, borrowed currency, 15 sheep, a ship's cargohold full of salt, your not- yet- first- born, next season's harvest, whatever. I don't own my house but the fact that I have a mortgage is irrelevant to whether I can afford it or not. To your original point, though, the banking lobby is evil. And our politicians continue to roll over for them, particulary for the credit card industry. Repeating something said in another thread, financial education is extremely important, and overlooked. To get overly philosophical about the matter, I do believe that your desire for the Maybach is inherent, in that it's pretty and shiny. It's just that our desires are exploited.On that note, don't forget Buy Nothing Day this year, November 23! http://adbusters.org/metas/eco/bnd// Link to comment Share on other sites More sharing options...
flyingman Posted November 2, 2007 Share Posted November 2, 2007 I saw the billboard this weekend on 45 and thought "applause. clever." because they know some of us will be thinking about it and doing searches and whatnot. Damn they got even me. > Link to comment Share on other sites More sharing options...
Vertigo58 Posted November 2, 2007 Share Posted November 2, 2007 I saw the billboard this weekend on 45 and thought "applause. clever." because they know some of us will be thinking about it and doing searches and whatnot. Damn they got even me. > Reminds me of another billboard that was over by Bay Brook Mall about 2 years ago. It was mostly blank and only had Larry Fine of the 3 stooges face on it? About 1 month later they put Larry's Shoes! I wanted to torch it. Place has since folded. Link to comment Share on other sites More sharing options...
memebag Posted November 2, 2007 Share Posted November 2, 2007 You're looking at it a bit idealistically. You can't afford your house, that is why you have a mortgage. The concept of affordability has changed from what you can buy, to what you can afford the monthly payments on. Great, you can afford the monthly payments on your house, and in the long run, you'll have paid the price for it three times over. That is getting screwed.Paying interest is getting screwed? I'm missing something. I knew the interest when I signed the contract. I can easily afford the price of the house and the interest. How am I getting screwed?You're right, banks don't make you buy things. That is a societal thing, and believe it or not, we are all ingrained with it. Unless you take the bus or ride a bike everywhere, you've bought things you don't need and can't afford to buy.I drive a car, but I bought it with cash. I need a car and I can afford to buy it. The only debt I have is my mortgage. I challenge your assertion that "we are all ingrained" with a compulsion to spend beyond our means.I am not surprised that you don't consider financing getting screwed. It is the modern paradigm of buying. Especially considering most things (save for groceries) are too expensive to pay for cash (homes, cars, electronics, furniture, etc).I paid cash for my car, my electronics and my furniture, all of which depreciate rapidly. Borrowing money for a house makes sense, since the house goes up in value, the interest rates are relatively low, and I get a big tax break.You still haven't explained how financing is "getting screwed". Getting screwed implies, to me at least, that something unexpected or unfair happened. Are you saying banks are out there charging people interest that those people didn't agree to? Link to comment Share on other sites More sharing options...
gwilson Posted November 2, 2007 Share Posted November 2, 2007 people that are not homeowners are either living with a friend or family member or they are renting. renting=paying into someone else's equity. Why pay into someone else's equity? the average person cannot pay for a house without getting a mortgage. getting a mortgage doesn't screw you. you screw yourself by either paying into someone else's equity or by getting a house that is over your budget.unfortunately, taking the bus or riding a bike isn't as easy in Houston as it is in other cities such as New York or Boston. that's a whole other topic thoughYou've completely missed the point. I never recommend renting. I am a builder, that would be stupid of me. What I am trying to communicate is that the system is set up to benefit them, not you. That, combined with the plethora of unfair trading practices equates to getting screwed.And Houston, for the most part, isn't much harder to get around using public transport than cities like NYC or Boston. You might have to walk a bit further at times, but such is life. That doesn't make a car a necessity for survival.My feelings exactly. Except for mortgages that I always pay off early, I haven't been persuaded to purchase things I can't afford or that I have to finance and pay over a long period, this notwithstanding the fact that society aided and abetted by capitalism and consumerism does its best to ingrain in its members the need to buy things. that is what I was getting at. I never stated that BANKS make you buy things.It is the modern paradigm of buying. Especially considering most things (save for groceries) are too expensive to pay for cash (homes, cars, electronics, furniture, etc).I think there's a distinction to be made here between consuming and transacting. I don't see anything inherently evil in the tools of transacting (credit). This is why Dave Ramsey makes me crazy with his simplistic sound-biting to the lowest common denominator. Credit bad! Credit-user dumb! The modern way in which we're compelled to consume is not the same thing as the concept of affordability. Affordablility means your ability to cover your obligations, and whether that's in hard currency, borrowed currency, 15 sheep, a ship's cargohold full of salt, your not- yet- first- born, next season's harvest, whatever. I don't own my house but the fact that I have a mortgage is irrelevant to whether I can afford it or not. To your original point, though, the banking lobby is evil. And our politicians continue to roll over for them, particulary for the credit card industry. Repeating something said in another thread, financial education is extremely important, and overlooked. To get overly philosophical about the matter, I do believe that your desire for the Maybach is inherent, in that it's pretty and shiny. It's just that our desires are exploited.On that note, don't forget Buy Nothing Day this year, November 23! http://adbusters.org/metas/eco/bnd//Dave Ramsey isn't anti-credit. He is anti-credit for the way that the majority of people use it (eg buying things they can't afford in installments). He teaches responsible use of credit. He doesn't need to use it often because he can afford not to. But I have heard him more than once tell people to take out a loan for responsible reasons. Banks, however, count on irresponsible buying because they know that they are going to be getting paid interest for the next 20 years. They encourage this by offering introductory rates and cash back deals. Banks are bad, credit card companies are even worse. Some of their practices are down right criminal.Paying interest is getting screwed? I'm missing something. I knew the interest when I signed the contract. I can easily afford the price of the house and the interest. How am I getting screwed?I drive a car, but I bought it with cash. I need a car and I can afford to buy it. The only debt I have is my mortgage. I challenge your assertion that "we are all ingrained" with a compulsion to spend beyond our means.I paid cash for my car, my electronics and my furniture, all of which depreciate rapidly. Borrowing money for a house makes sense, since the house goes up in value, the interest rates are relatively low, and I get a big tax break.You still haven't explained how financing is "getting screwed". Getting screwed implies, to me at least, that something unexpected or unfair happened. Are you saying banks are out there charging people interest that those people didn't agree to?You are obviously the exception, not the rule.Mortgages are far less "getting screwed" than credit cards and car loans. Paying 3x the price of a home is not fair. It is only considered fair because it is the status-quo. And just because you know you're going to be paying that over the term, does not mean you didn't get screwed. You weren't given another option. It is either pay cash (not many people can do this, pay the interest, or don't get it. Credit card companies change the rules regularly on their customers, they are more the targets of my rant than mortgage lenders. But the federal government has even made some not-so-nice comments about the mortgage lending market lately because of their trade practices. Link to comment Share on other sites More sharing options...
memebag Posted November 3, 2007 Share Posted November 3, 2007 You are obviously the exception, not the rule.Mortgages are far less "getting screwed" than credit cards and car loans. Paying 3x the price of a home is not fair.Why isn't it "fair"? You seem to be avoiding answering that basic question. It is only considered fair because it is the status-quo.Not by me. I pay closer to 2x the price. That's perfectly fair. The bank is paid to loan me the money. I pay so I can live in the house while I pay it off. What's not fair about that? And just because you know you're going to be paying that over the term, does not mean you didn't get screwed. You weren't given another option. It is either pay cash (not many people can do this, pay the interest, or don't get it.What "other option" would be fair? Hope the land fairy and the house fairy give me a place to live?Or are you saying money should be loaned at 0% interest? If so, I want all of your money right now. Then I want some more. Go get me some.Credit card companies change the rules regularly on their customers, they are more the targets of my rant than mortgage lenders. But the federal government has even made some not-so-nice comments about the mortgage lending market lately because of their trade practices.Credit card companies take advantage of people, but those people aren't entirely innocent. They can read the contracts they sign. They can turn down credit card offers. No one has a gun to their head. Link to comment Share on other sites More sharing options...
TJones Posted November 3, 2007 Share Posted November 3, 2007 If you've ever bought anything on credit, you've gotten screwed. Unless it was 0% and you managed to pay it off before the rate adjusted. Even those programs are designed to make money because only a small percentage of borrowers pay off in the time allowed. They also used deceptive and often illegal trade practices to CAUSE breaches of contract on your part such as changing due dates, not posting payments until after they are late, just to name a few.If you haven't been affected by any of this, then you are the very lucky exception to the rule.As far as your "very easy" bit, sure. But 99.8% of the buying public can't afford a new car without borrowing. An even higher percentage cannot afford homes without borrowing. Most home electronics, furniture and clothing are purchased by borrowing. Very few things save for bills and groceries are actually paid for cash by the vast majority of the buying public.You sound as if you think the banks OWE you something ? If you don't like to pay interest, then save up and pay cash. Paying interest is the "cost of doing business" if you want to live beyond your means. People with 700 and 800 beacons don't seem to have problems with banks or payments getting posted after the due dates. Those that tend to have problems either , one, never intended to pay on time in the first place, or, two, got in over their head at the outset, because they were trying to live beyond their means, and never bothered to read the contract they entered into. In either situation, in these people's minds, it is NEVER their fault and is always the person or institution that either sold them the product or set up the loan. Then, when they get repo'd they want to try and blame anyone and everyone BUT themsleves for not making the payment, or even TRYING to set up some kind of arrangement. Truth of the matter is, the banks don't want foreclosed properties or repo'd cars. They aren't in the car or housing business, they are in the MONEY business, and that is all they want from you, and HOW do they make money ? Through interest rates, they want to lend money out at a higher interest rate than what interest rate they give to people that keep it in their vaults or in their CDs and MM accounts.They aren't trying to screw you, they are taking a big risk with other people's money by lending it out to you, and all they ask is that you pay it back and be on time with it. Then, once you have showed them that you can be trusted, then you might possibly get a lower rate next time.Look at it this way Gwilson, a bank gives you a 30 year loan on a $180k mortgage with THE perfect interest, that you couldn't possibly think that you are getting "screwed over", and they also give you an option to payoff the mortgage early with no penalty, because it is a simple interest loan. Is that fair ? Then, the next month you have a rich Uncle die and leaves you $280k. Would you go the 30 years, or would you go pay off the house immediately and screw the bank out of all the interest ? Link to comment Share on other sites More sharing options...
crunchtastic Posted November 3, 2007 Share Posted November 3, 2007 Actually, banks have already foreseen your default, and have anticipated it by selling certain blocks of debt. This makes many people very, very, rich. It is also quite risky, hence the recent earnings reports of Citi and BofA, and the recent departure of Merill's COO. The way debt markets are collateralized, it is true that banks really are better off if a certain number of low level consumer loans default. Far more profitable on the secondary markets that way. The cost of that default was already built into the system. Link to comment Share on other sites More sharing options...
dalparadise Posted November 3, 2007 Share Posted November 3, 2007 Back on topic:Did anyone see the "15minutesaway.com" billboards downtown? That's all they said. there was nothing to indicate who the advertiser was. It took me a few times seeing them to remember to check it out, but I finally did:www.15minutesaway.com Link to comment Share on other sites More sharing options...
crunchtastic Posted November 3, 2007 Share Posted November 3, 2007 I could practically smell the family-friendly pumpkin spice candles on that site. ick. Is that neighborhood really that close to DT? 15 minutes?I've wondered this for a while--my family moved from Friendswood to Katy in 1977- after looking at houses in Kingwood and the Woodlands. So why doesn't the way up 59 N get the love? Link to comment Share on other sites More sharing options...
Vertigo58 Posted November 6, 2007 Share Posted November 6, 2007 I saw two billboards with the phrase, "Banks Hate Us."What does that mean? What are they advertising? I saw one of the billboards before taking the downtown destinations exit on i-10. I think the other one might have been off of 290. We just got "tagged" with one of these beasts. 45 South @ Wayside area. Wonder where one could buy a flame thrower? E-Bay I imagine, shuh. Link to comment Share on other sites More sharing options...
blueskies Posted November 6, 2007 Author Share Posted November 6, 2007 We just got "tagged" with one of these beasts. 45 South @ Wayside area. Wonder where one could buy a flame thrower? E-Bay I imagine, shuh. ohhh lorrdd lol Link to comment Share on other sites More sharing options...
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