Oh lord, lets bail out the sub-primes.... - Page 5

Wagner · #41 12-10-2007, 02:03 PM

Quote:

Originally Posted by Eric5273

You know, people run the DMV, and people also run your local bank. The quality of work those people do is usually a result of how much they are paid, not a result of where they get their paycheck from. Here in NY, civil service employees are actually paid rather well, while bank tellers are paid crap. Perhaps in MD it is the other way around....I have no idea.

But I can assure you that if the top management at Citibank was let go and taken over by the Federal government, but other than that there were no huge policy changes, you would not notice a difference at your local Citibank branch.

And I'm just curious, but why did you choose to use the DMV as your model for comparison of how a government operation works. Why not the Fire Department? Or maybe the Post Office?

I guess that's kind of like when you guys use North Korea or some other poor country as your model for Socialism, but use the United States as your model for Capitalism (instead of Mexico or Nigeria). I guess it makes your argument better.

Post Office, that is worse then the DMV and Fire Dept, most around here are volunteer, not exactly the same.

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Eric5273 · #42 12-10-2007, 03:46 PM

Quote:

Originally Posted by Wagner

Post Office, that is worse then the DMV and Fire Dept, most around here are volunteer, not exactly the same.

Well, as you said before, perhaps NY is much different than the rest of the country, because it is not like that here at all.

At my local DMV, you wait on line about 5 minutes, then you get a little ticket with a number and you sit down in a waiting area where you can watch TV. Then about 15 minutes later they call your number and you go to the counter that called your number (there are about 20 counters) and they take care of you.

At the local bank, it could be friday afternoon at 2:30 (the most crowded time) and the local bank has 2 tellers working windows, and even though there are 8 windows available, I've never seen more than 3 of them open. So the line goes out the door and it takes 45 minutes to do a simple deposit. And if you want to do something a little more complex like an electronic transfer to a foreign bank, you better put aside your entire day because nobody in the entire bank will know what to do and it will take hours.

But that's because the people working at DMV are middle aged people who had to pass a civil service exam and earn $30-50k per year, while the bank tellers are 22 year old high school dropouts who last worked the counter at mcdonalds.

Meiac09 · #43 12-10-2007, 04:10 PM

Quote:

Originally Posted by Eric5273

At my local DMV, you wait on line about 5 minutes, then you get a little ticket with a number and you sit down in a waiting area where you can watch TV. Then about 15 minutes later they call your number and you go to the counter that called your number (there are about 20 counters) and they take care of you.

At the local bank, it could be friday afternoon at 2:30 (the most crowded time) and the local bank has 2 tellers working windows, and even though there are 8 windows available, I've never seen more than 3 of them open. So the line goes out the door and it takes 45 minutes to do a simple deposit. And if you want to do something a little more complex like an electronic transfer to a foreign bank, you better put aside your entire day because nobody in the entire bank will know what to do and it will take hours.

But that's because the people working at DMV are middle aged people who had to pass a civil service exam and earn $30-50k per year, while the bank tellers are 22 year old high school dropouts who last worked the counter at mcdonalds.

Here, you get a ticket and wait for three and a half fookin' hours.

:. And considering that they put it at the mall for "Convenience", thats jacked up. Use freaking pagers. (five counters) They have 10 counters at the DMV thats near my house. They're never open though. Thank god you get tags at the town hall and can renew your license online.

+1 on the bank thing, it takes forever to do something simple with all the

forms. Add to that the new "remove sweatshirts and sunglasses from your person" bullsh!t, and its just annoying. I am starting to like the local SB a lot more than BOA, but with the idea of going to school halfway across the country next year means having something national is a good plan. too bad BOA isn't in CO. Our bank tellers are all retired ladies too, we require a diploma

X5 in AK · #44 12-10-2007, 04:29 PM

Quote:

Originally Posted by B-Line

I have an idea.

Instead of the gov't giving money to the banks or the private home owners who did not bother to recognize the potential issues of a five year, interest only, adjustable rate mortgage....

The Gov't should instead give that earmarked money to homeowners who opted to go with a traditional 30 yr. fixed mortgage and who continue to pay their mortgages on time.
Then those people, can go out with the money the gov't gives them. They can buy the foreclosed, adjustable fixed rate homes at wholesale prices. Those homes can than be rented out as an income property, managed by people who have rational investment ideas and whatever profits come from renting these homes can than be taxed as income and money given back to the gov't..

B

+1

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