Fear of Clowns

"Faith may be defined briefly as an illogical belief in the occurrence of the improbable."
- H. L. Mencken

Monday, December 06, 2004

Breakfast and a couple reasons banks suck 

yellow, orange, red

Friday, I checked my personal checking account online. Out of nowhere came a line described as "OVERDRAFT XFER FROM CREDIT CARD OR LINE" despite the fact my account had not gone under - if my account were to go negative, the negative balance automatically goes onto my credit card, issued by the same bank.

I had paid off the balance on their card the day after I made a deposit into checking to do just that, which triggered a business rule they have in place to retroactively put a hold on my deposit so they could transfer what I had just paid off right back onto my card.

Everything is right there on my online statement - an overdraft line right there among all the positive running balances. My bank immediately reversed their fancy and scurrilous accounting during the phone call I made to them. The fact that the lowly phone job banker had the authority to reverse the transaction tells us exactly why they tried to do it: because they could.

I looked up who the bank contributed money to in the 2004 election cycle. In the first 50 largest donations, over 85% of it went to Republicans.

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