UIGEA Weekly action Item idea

[DeadMoneyDad]

Today I had a wild hair idea that I tested out.

I withdrew $400.00 from the ATM at the bank.

I walked inside and asked to see the branch manager, who knows me well. She wasn't there.

I asked the acting BM if I could deposit these poker winnings to my account. She of course said sure and started filling out a deposit slip.

I said "Hold on a minute, can you check my accout balance?"

She of course said, " Of course Mr. D$D"

I asked, "If I wanted to withdraw the balance in cash, if you had it, to go play poker would you give it to me?"

She paused a little supisiously but said, "well of course you can do what ever you want with your money."

So I asked, "then why do you block my debit card when I want to do the same thing without comming into the bank?!?"

I suggested that I wanted a refund of the $20.00 in fees that I had paid when I made a deposit to FT since they forced me to use a third party midlle man who charges %5 for the service.

I did add that if the bank went along with the reg that I would keep track of the extra fees I was charged and would be looking for a refund.

I did this at three banks in the local area.

I suggest some of you do the same, it might be easier than buying a bank."


D$D<--just a post whore.........

[poorolrich]

Get a life!!!!!

[jafeather]

I'll give you my honest opinion on this before you get flamed to death.

A) We're having enough trouble getting people to support our cause by e-mailing their reps, snail-mailing their reps and calling their reps...all things they can do from the comfort of their home. You are asking people to get up and physically go somewhere...a bank no less, which they (in today's technological society) may have no reason to ever go to for anything.

B) While this would be mildly annoying to the individual managers you did this to, that would be it. Sure, they would tell their superiors, who in turn would tell the managers to deal with it. Only if you could get a TON of people to do this would it pass the mark of mildly annoying.

C) IF you could get past the points in B, then your next step would be getting people to hassle their bank for a refund. They would just get the form-letter "No refund blahblahblah UIGEA blahblahblah legal operation blahblahblah " The only way you could get a different response is if you got a TON of people to ask their bank for refunds...and then you'd just get a different form letter...probably suggesting you contact your representatives....which you probably should've done instead of all this and no one is doing a whole lot of anyway.

[MiltonFriedman]

I'll give you my honest opinion on this. ....you are lying through your teeth about what you claim to have done. It's not that I do not think you are capable of concocting such stupid scenarios, its just that I think you prefer to stay home and lie about having acted them out.

You really are making an ass of yourself. To mimic the labelled threads by the Engineer, which offer constructive action items, is simply being disruptive of honest efforts to discuss Poker Legislation.

[Coy_Roy]

[ QUOTE ]


You really are making an ass of yourself. To mimic the labelled threads by the Engineer, which offer constructive action items, is simply being disruptive of honest efforts to discuss Poker Legislation.

[/ QUOTE ]



Those are my thoughts exactly.

[strategery]

I'm just a lurker, but I agree with the sentiments people are expressing about this clown.

[Uglyowl]

[ QUOTE ]
I'm just a lurker, but I agree with the sentiments people are expressing about this clown.

[/ QUOTE ]

I don't think D$D is a clown, far from it in fact, but the OP was useless if he went through that much trouble. It is not what I would expect from him.

[DeadMoneyDad]

[ QUOTE ]
I'll give you my honest opinion on this. ....you are lying through your teeth about what you claim to have done. It's not that I do not think you are capable of concocting such stupid scenarios, its just that I think you prefer to stay home and lie about having acted them out.

[/ QUOTE ]

I spoke to John after my visits to the banks, he can tell you if he feels I am lying.

I also have the names of the bank managers I soke to today, you want to call them? I'll be happy to give you their names and phone numbers.

I honestly beleive that we as a group can cause the banks to re-consider taking any position on the regs as a grassroots group. We might even get them to tell the FED and the TD to shove the rules back on Congress, it has happend before with an unworkable law.

If we are going to negociate lets ask for the moon as our opening position. Why be reasonable? Congress wasn't.

Middle of the night, POS of at best 1/2 thought out legislation, attached to a must pass spending bill? A plurality of members admit to not reading?

F 'em.

I never said we should not fight the regs by commenting between now and Dec 12th. I'm just suggesting there are many ways to fight this battle.

You don't like my ideas?

Fine I get that.

You don't think they would work?

Fine don't participate.

You have a better one?

Suggest it.

If not?

__________________

If the published numbers about how much is spent on-line are even close then we can make a difference.

Well if we ever stop fighting amongst our selfes.


I've never lied on-line, there is no up side in it.


Your move,


D$D

[DeadMoneyDad]

[ QUOTE ]
[ QUOTE ]
I'm just a lurker, but I agree with the sentiments people are expressing about this clown.

[/ QUOTE ]

I don't think D$D is a clown, far from it in fact, but the OP was useless if he went through that much trouble. It is not what I would expect from him.

[/ QUOTE ]

Come on people catch up.

I don't beleive that if we managed to speak to all 40k bank managers in the US that that alone would do the trick.

I asked the bank managers to get back to me. 2 of the 3 I have long term business relationships. The other was on my way home running erands. The whole process took place while I was dropping off and waiting to pick my daughter up from swim pratice.

I beleive in the old adage that money talks and BS walks. Banks seem to feel this way as well for the most part.

I don't want to talk to the local bank manager or even the district manager. I'm looking to talk to a regional VP or someone from corporate. I think I can make that happen, maybe not.

Todays visit was just a test of a theory of mine that the banks have been ultra-conservative in their apporach as the only real reg to come out of the UIGEA before Monday was a sentencing guideline for conviction of the breaking of the law. 5 years, go look it up.

IMPO making the banks uneasy, might cause them to make the FED uneasy, who with the right push, given the reading between the lines of the proposed rule, just might tell Congress the Act as written is unenforcable.

I made the mistake of thinking this was an open forum to discuss various ideas. Yes my original suggestion to boycott banks and credit cards was at best 1/2 baked. Personally I thought it was at least as effective as watching NASCAR instead of the NFL on Sundays.

The point is we do not have to constrain ourselves to fighting this battle on the Federal Government's ground.

In Poker Terms:

They, the Congress, made a bet that we dumb unorganized self-centered greedy poker players would fold to their bet or at least call and play their game. I say the worst play is calling here, I suggest at least check rasing. We pretty much sat out our first chance to play in this game.

We have the FED and the TD, IMPO in a sandwich move, if can we get the banks to fold. As long as the banks are a player at the table they have a much bigger stack than we do, and because of the no-liability clause in the UIGEA are in effect on a freeroll.

Now you may think I am bluffing or my hand is really weak, but I think between now and December 12th I hold two live cards.

But if I am playing this hand alone I guess I didn't have the chips to bet that I thought I did.



D$D

[Uglyowl]

[ QUOTE ]
I walked inside and asked to see the branch manager, who knows me well. She wasn't there.

I asked the acting BM if I could deposit these poker winnings to my account. She of course said sure and started filling out a deposit slip.


[/ QUOTE ]



A branch manager is not going to elevate this issue as quickly as we need them to. As far as the regs go time is short and the solution to please you is so far away.

Maybe if you have a very large balance you may get heard, but otherwise at best it will wait for their monthly meeting, then maybe in a few weeks get passed off to risk management/compliance where best case they may try fitting it in at some point to ask questions of their service provider.

The problem is most financial institutions use a 3rd party service provider for plastic card transaction processing. So even if they wanted to, they couldn't just flip a switch