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Politics : Inhalin' with Palin !! -- Ignore unavailable to you. Want to Upgrade?

To: IRWIN JAMES FRANKEL who wrote (193)	10/1/2008 4:47:24 PM
From: Arthur Radley	1 Recommendation Read Replies (1) \| Respond to of 358

IJ, you write about “our” system. Isn’t that like saying you own a football; therefore, you created the game? This is the ilk that you are willing to drain the last ounce of dignity from a man or woman that has fallen on hard time….be damning whether or not their kids can have a decent meal or medical care. Banks collect $17.5 billion a year in overdraft fees. And there is no question that a bank should have the right to make a charge for this event…so take that rebuttal off the table from the get-go. This is the issue! Banks process the daily charges –checks, withdrawals, debits –not in the order they’re made, but from the largest to smallest amount. What this allows the banks to do is process the funds for the largest amount…thus draining the account and then making multiple overdraft charges for the remaining checks that they process. Always, remember…the bank gets their “blood-money” based on the individual transactions where overdraft status applies. So, just what is the banks position on this issue? Call Eileen Leveckis, corporate communications manager for Wachovia. (The same Wachovia that just got caught with a few overdrafts of their own making). This is what Ms. Leveckis will spin you if you call, “OUR research has shown that customers prefer us to pay the higher-amount bills such as mortgage, car payments –the really important bills that will impact credit.” Now look at the truth of what Wachovia and Ms. Leveckis tell their employees in a internal document obtained by USA Today….”overdraft charges “make up a big percentage of our revenue and is a HOT button among leadership.” IJ…look at what Ms Leveckis spins so you can make your blood money! “OUR RESEARCH!” IJ, do you and Ms. Leveckis actually believe that Wachovia has a person monitoring every check that is processed through their bank to note who the check is made payable? How does Ms. Leveckis know what check should be jumped ahead of the line, when you consider the total process is done by document scanning and computer actions. Who is this person or entity that makes this decision so Wachovia can be a party in collecting $17.5 billion and therefore enhance the chance that kids will go hungry, medicines will not be bought and IJ walking through a courthouse door to collect additional blood money?