Friday, April 18, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Banks know how to pass the buck

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December 10, 2013 | 30 Comments

It has always been a Bob Cratchit/Ebenezer Scrooge sort of business . . . “empty as a banker’s heart” and so forth.

Ever get angry with those guys? Most of us have at one time or another for a variety of reasons ranging from disputed balances to impolite and diffident clerks to hidden and frequently raised fees to slow service at the drive through. Gouging seemed like the byword, charging us far more than they would give.

Ever walk into a bank you have been using for years and suddenly realize that the staff seems to change constantly – that no one recognizes you nor you them, that the bank manager or teller with whom you dealt so pleasantly last week has gone somewhere else. In fact that sort of Twilight Zone experience seems to be a regular occurrence. Well, there may be a simple explanation for at least some of this endless turnover. It’s lousy pay.

You might consider this before feeling guilty about your permanent dismay at the role our commercial banks played in the real estate debacle that ignited the worst recession since the Great Depression and the amount of taxpayers’ money spent to rescue them. The rich institutions most of us rely on to protect what little fortune we have managed to accumulate not only have bounced back, they also have found ways to escape a climate of unfavorable interest rates to get even wealthier.

One of these is for you and me to subsidize their under compensated help. According to a new study by the Labor Center at the University of California Berkeley, more than a third of the nation’s 500,000 bank tellers are being partially supported by taxpayers. That is despite the fact bank profits exceeded $141 billion last year and the median income for the industry’s chief executives was a tidy $550 million plus.

Match that against data from the Bureau of Labor Statistics that puts the median annual income of a bank teller $24,100. That’s a whopping $11.59 cents an hour, hardly enough to live on without a second job or (and here’s the rub) help from tax supported programs like food stamps and Medicaid. The report says that in New York state alone 39 percent of the bank tellers and their family member are on some sort of public assistance.

Bank employees nationwide receive $534 million from Medicaid and the Children’s Health Insurance Program; 105 million worth of food stamps and $250 million for the earned income tax credit. That’s nearly $900 million a year in supplemental income.

It’s no secret that bank jobs are pleasant but financially unrewarding unless one rises to executive status. It’s that image that inspired Charles Dickens to write a Christmas Carol. The position of handling the money behind the window frequently is held by the young on the make for something better or looking to pay for college. They frequently don’t earn overtime or get paid for holidays when the bank is closed.

These bank employees most directly involved with the public aren’t alone in their efforts to win a higher wage from their managers and with good reason. The federal minimum still is under $8 an hour and everyone from fast food workers to those laboring in discount stores are seeking local increases as high as $15 an hour. In the Washington area one retailer threatened to reconsider its plans to open several new stores if the local county or city governing boards approved a $11 to $12 wage minimum.

Now it seems lower level jobs may be jeopardized by technological developments like video conference tellers at ATMs. Whether or not the technology will replace thousands of jobs as protestors claimed the other day in a rally against them or just be used to supplement the work force as the banks claim remains to be seen. The history of this sort of automation is that once it is used, it ultimately brings economy of payroll. In other words, staff reductions.

The American taxpayers will continue to provide the Christmas goose and all the trimmings this year and probably for the foreseeable future because Scrooge, as we all know, wasn’t just the figment of a wonderful writer’s imagination.

I’m reminded of what humorist Will Rogers once said in a speech before the American Bar Association. He said it was a pleasure and that he hoped “you will invite me back when the other half of your membership gets out of jail.”

These guys give new meaning to passing the buck.

Email Dan K. Thomasson, former editor of the Scripps Howard News Service, at thomassondan@aol.com.

Dan K. Thomasson

LEAVE A COMMENT

Discussion | 30 comments

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  • Mike KirchubelDecember 09, 2013 - 9:44 pm

    Well, well, well. Walmart banks. Why don't we ever talk about taxpayers subsidies to the corporations? Why is it always cut unemployment. Cut food stamps. Cut Social Security?????? Why not cut corporate subsidies for the rich? Answers?

    Reply | Report abusive comment
  • Mr. PracticalDecember 10, 2013 - 5:51 am

    The Penny Plan

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  • DanielDecember 10, 2013 - 6:00 am

    Kirchy do you understand the difference in less taxes compared to real corporate welfare to campaign donors like the welfare dependents Solyndra, GM, public unions, ACORN and Halliburton whom has gotten much richer during the last 5 years (they love Obama)?

    Reply | Report abusive comment
  • Mike KirchubelDecember 10, 2013 - 10:32 am

    danny boy, yes, but it seems like you need to do a little homework. You are stuck believing that the Bush-era Solyndra investment that was simply given the final OK by the Obama administration is something meaningful in the current conversation, that unions and Acorn rely on government subsidies, that Halliburton is run by the Democrats, and that the government still owns GM stock. Goodness gracious young man, how deep does your disinformation programming run? Have you access to facts, or do you simply choose to believe in the Fox Fairies uber alles? I would love to have a conversation about money in politics. I too, believe that is the root of much evil.

    Reply | Report abusive comment
  • http://www.onecentsolution.org/the-one-cent-solution/December 10, 2013 - 6:45 am

    Everybody check this out! Thanks Mr. P this could be a good Plank in my Congressional Platform......Vote for StR...well maybe not you guys ( out of state I am )....but YOU CAN SEND LOTS OF CAMPAIGN CONTRIBUTIONS

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  • StR and Stripes ForeverDecember 10, 2013 - 6:51 am

    http://www.youtube.com/watch?v=a-7XWhyvIpE

    Reply | Report abusive comment
  • Should be the Daily Republic PostDecember 10, 2013 - 7:00 am

    http://www.youtube.com/watch?v=Mxrh1CrMmTY

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  • Stadtkapelle Melk - Colonel Bogey Marsch ( The city of Melk Town Band )December 10, 2013 - 7:21 am

    http://www.youtube.com/watch?v=klXE9YUtNTI&list=PL472E32989E9093F5

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  • Melk Abbey Austria.....Very very nice to visit even Napoleon thought soDecember 10, 2013 - 7:27 am

    http://www.youtube.com/watch?v=kOD2d7eCMVs

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  • Read the BookDecember 10, 2013 - 7:41 am

    The Public Bank Solution: From Austerity to Prosperity by Ellen Brown

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  • Shout out to Ellen BrownDecember 10, 2013 - 7:43 am

    What do you think of The Penny Plan?

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  • Today Tuesday on InfowarsDecember 10, 2013 - 9:12 am

    On this Tuesday, October 10 edition of the Alex Jones Show, Alex takes a look at the latest encroachments by the high-tech panopticon control and police grid as Google predicts a not too distant future of total surveillance and microchips implanted in the human brain. Google's prediction arrives as the NSA moves its total surveillance into the virtual realm by placing its operatives into online games and terrain populated by digital avatars. On today's show, Alex talks with Dr. Jim Garrow the former Nobel Peace Prize nominee and founder of The Pink Pagoda, an institute that rescues baby girls from infanticide in China. Garrow previously exposed Obama's purge of high-ranking officers from the military. Alex also takes your calls on this worldwide transmission. wwwinfowarscom

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  • GoogleDecember 10, 2013 - 9:17 am

    Christians Are Being Burned Alive, Beheaded, Crucified, Tortured To Death & Imprisoned Michael Snyder American Dream December 10, 2013

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  • GoogleDecember 10, 2013 - 9:19 am

    Write wrongs! Over 500 world-famous authors sign anti-surveillance petition RT December 10, 2013

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  • https://en.wikipedia.org/wiki/United_States_House_of_Representatives_elections,_2014December 10, 2013 - 9:26 am

    How do we save The Republic by getting the correct people elected?.....Who should stay and who should go, reference this list........We need a list of the righteous candidates to vote for........More righteous people need to run for office.

    Reply | Report abusive comment
  • Google...December 10, 2013 - 9:39 am

    America's Last Major Athletic Shoe Manufacturer Says It Can't Survive A Free-Trade Agreement With Vietnam Gus Lubin Jul 29 2011 business insider com..................Workers at the New Balance factory in Skowhegan, Maine fear a deluge of cheap shoes if President Obama signs a free-trade agreement with Vietnam and seven other countries................ It is the last major athletic shoe factory in America................. New Balance pays its workers upward of $10 an hour, plus benefits, while labor costs in China are about $1.50 an hour, and even less in Vietnam.

    Reply | Report abusive comment
  • Check this outDecember 10, 2013 - 9:45 am

    Google Wants Microphones In Your Ceiling & Microchips In Your Head Paul Joseph Watson Infowars.com December 10, 2013 .............Some of the first cranial chip implants were tested at the Vacaville prison

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  • http://www.theforbiddenknowledge.com/hardtruth/2020_implant.htmDecember 10, 2013 - 9:47 am

    The security windfall from the brief test period was enormous. Security officials now know several strategies employed by the EME that facilitate the transmission of illegal drugs and weapons into their correctional facilities. One intelligence officier remarked that while they cannot use the informaiton that have in a court of law that they now know who to watch and what outside "connections" they have. The prison at Soledad is now considering transferring three subjects to Vacaville wher we have ongoing implant reserach. Our technicians have promised that they can do three 2020 neural chip implants in less than an hour. Soledad officials hope to collect information from the trio to bring a 14 month investigation into drug trafficking by correctional officers to a close.

    Reply | Report abusive comment
  • http://www.bibliotecapleyades.net/ciencia/secret_projects/implants.htmDecember 10, 2013 - 9:56 am

    Biochip Implants Hi-Tech/Top Secret Projects

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  • Today Thursday on InfowarsDecember 12, 2013 - 9:16 am

    On the Thursday, December 12 edition of the Alex Jones Show, Jones examines the unprecedented police state rollout in New York City in the run up to the Super Bowl, and takes a look at Homeland Security's decision to finally fire the man that advocated a genocidal race war. Alex also analyzes the great "congressional budget compromise” and how it still ends up screwing the American taxpayer, and continues outlining the ill effects stemming with the Obamacare train wreck. Joining Alex today is former Congressman Ron Paul. The stalwart libertarian and three time presidential contender will discuss Obama's actions becoming more and more dictatorial, the Republican budget sellout, the out-of-control rise of police corruption and the slow motion implosion of the American dollar.wwwinfowarscom

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  • Obama Nominates Israeli Bankster as Federal Reserve Vice Chair ( Dem or Repub is same same )December 12, 2013 - 9:20 am

    The Obama administration has nominated a top level globalist to act as vice chair of the Federal Reserve, the private banking cartel masquerading as a federal agency. If selected, he will replace Janet Yellen as Vice Chair of the Board of Governors of the Federal Reserve. Yellen is slotted to replace Ben Bernanke....................................... Zambian-American-Israeli economist Stanley Fischer left mega-bank Citigroup to head up Israel’s central bank. He is the former number two honcho at the globalist loan sharking operation, the IMF, and the former chief economist at the World Bank. As an MIT economics prof Fischer tutored the current Fed boss, Ben “Helicopter” Bernanke and former Treasury Secretary Larry Summers. Fischer is a member of the influential Group of Thirty.

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  • continuedDecember 12, 2013 - 9:22 am

    Obama was instructed over the summer by central banksters and establishment economists to nominate Fischer. Stanley Fishcer is an ideal choice as number two at the Federal Reserve. He is a monetary “hawk” who will guide QE Infinity along its destructive path. His globalist credentials are sterling.

    Reply | Report abusive comment
  • also see thisDecember 12, 2013 - 9:28 am

    By Ami Kaufman |Published June 16, 2013 Israeli financial daily: ........................ Ben Bernanke may replace Stanley Fischer as head of Israel Bank Israel’s largest financial daily, Calcalist,reports today [Heb] on rumors that the Chairman of the Federal Reserve, Ben Bernanke, will replace Stanley Fischer as head of the Israel Bank. ...................... Amnon Atad, a veteran reporter who is known for his extensive behind the scenes knowledge of the Bank of Israel, discusses the possible “mother of all surprises” that Prime Minister Netanyahu may be preparing. Atad writes: ........................... “There is another option, at this point only a rumor, that explains the smell of surprise now spreading in the air: to appoint Federal Reserve head Ben Bernanke to the job. It could be an imaginary speculation, with low chances of actually happening, but one must remember that Bernanke is the only import option that would garner wall to wall agreement. Ben Shalom Bernanke is very much a “Fischer compatible.” He’s also a well known and experienced economics professor, Jewish, and speaks Hebrew. Bernanke is supposed to finish his term in January 2014. Netanyahu can now announce his appointment to head of the Bank of Israel and that he will begin in half a year, and until then the deputy head Karnit Plog will fill the position.”

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  • Today Friday on infowarsDecember 13, 2013 - 8:42 am

    On this Friday, December 13 edition of the Alex Jones Show, Alex runs down the government's targeting of Bitcoin currency in an effort to eliminate any meaningful competition, no matter how minor, to its fiat paper money hegemony. Alex also looks at a plan by the IMF to jack up tax rates into the stratosphere as the globalists continue their consolidation move. He talks about the economic Ponzi scheme with former stock broker and commentator Max Keiser. Alex also talks with Canadian blogger, essayist, author, philosopher and host of the Freedomain Radio series of podcasts, Stefan Molyneux. Alex provides incisive commentary on the latest breaking news and takes your calls on today's worldwide broadcast.wwwinfowarscom

    Reply | Report abusive comment
  • Google....December 13, 2013 - 9:17 am

    The Future of Planet Earth. Are We the Last Surviving Generations? Radioactivity and the Gradual Extinction of Life? By Dr. Rosalie Bertell Global Research, December 12, 2013

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  • like JP Morgan, Buffett is a place holder for the Rockefellers and RothschildsDecember 13, 2013 - 9:23 am

    Google...Warren Buffett's Coal Problem by Marc Gunther Sierraclub.............To run his coal trains, the billionaire investor needs to seize land from a bunch of Montana cowboys. That's not going over very well........An example of the consolidation of control of vital economic resources in the hands of too few controllers

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  • GoogleDecember 13, 2013 - 9:33 am

    Bill Gates and the Lucis Trust - Christian Voice UK

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  • ? Some background on Warren Buffett googleDecember 13, 2013 - 9:52 am

    When Warren Went Left: The Ideological Seduction Of Warren Buffett Nov 29, 2012 forbes

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  • The NWO the only sure thing in Death, more Death and TaxesDecember 13, 2013 - 10:25 am

    IMF Wants a 71 Percent Tax Rate Think Cyprus Kurt Nimmo Infowarscom December 13, 2013

    Reply | Report abusive comment
  • Illuminati Whistleblower "They Worship lucifer"December 13, 2013 - 9:43 pm

    http://www.youtube.com/watch?v=aGEYloihE9g

    Reply | Report abusive comment
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