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Scott Ritcher
Author:
Scott
Blog URL:
http://www.eggfly.com/blogs/scott
Description:
Stuff I wrote primarily for the site News N Shit (www.newsnshit.com). I also have a site with similarly-themed material called Ballot Revolution (www.ballotrevolution.org).
Who are the insurgents and what do they want?
Scott

On May 1, 2003, under a colorful banner reading “Mission Accomplished,” President George W. Bush declared that major combat operations in Iraq had ended. The first year in Iraq – called “the lost year” by a PBS Frontline documentary – saw a number of successes and reasons for hope. Iraqi children caught candy tossed by US soldiers from Humvees, ordinary citizens celebrated their freedom in the streets, and iconic symbols of Saddam Hussein’s government were defaced across the country. By the close of that year, though, something had begun to shift dramatically.


About seven months after the invasion, in October 2003, the terms “insurgent” and “insurgency” began appearing with significant regularity on CNN and in other mainstream media outlets. The usage of these names grew alarmingly and the tactics employed by those who held them became increasingly more offensive and abhorrent. Sniper and rocket attacks on convoys gave way to roadside bombs and videotaped beheadings of civilian contractors.

Two years after Bush’s announcement of the end of combat operations, Vice President Dick Cheney commented that this second horrific phase was coming to a close. “I think they’re in the last throes, if you will, of the insurgency.” That, too, proved to be a premature assumption.

So much day-in-day-out coverage of endless reports of the violent, indiscriminate deaths of Americans and Iraqis alike has led to what has been described as “outrage fatigue.” Yet after all this reporting of the so-called insurgency, many Americans still have a few simple, basic questions about the whole ordeal.

Who are the insurgents and what do they want? Are the Americans or the new Iraqi government able to give them what they want? And if so, would giving them what they want – even if it means conceding some sort of defeat – be worse than the continued spilling of blood?


The name of a fighter

The terms “insurgent” and “insurgency” in relation to the guerilla fighters of the conflict in Iraq have been controversial since their introduction. Many would argue that one cannot be justly classified as an “insurgent” or “terrorist” if he is protecting his home or defending an established way of life. By definition, an insurgent is a rebel, revolutionary, or one who rises or attacks in revolt. That is to say that insurgents take up arms against an established authority or a larger opposing force. It is more often the tactics of these fighters – attacking crowds of civilians or infrastructure installations – rather than a literal definition that make these terms so tempting, if not their continuous repetition without question that makes them seem like acceptable labels.

Equally controversial is the debate over what to call these people if “insurgent” is not an appropriate designation.

Steve Jetton, a writer for the Houston Chronicle, documented some examples of this debate in a July 2005 blog entry about the inner operations of the newspaper. His article juxtaposed letters the paper had received from readers with responses from one of the Chronicle’s editors. That debate in Texas, however, was markedly different than “insurgents” versus “fighters” in that many readers were urging the paper to replace the term “insurgents” with “terrorists.” Jetton remarked, “we use the ‘insurgents’ to describe the resistance to democracy and US troops being in Iraq. Some readers would prefer we label them as ‘terrorists.’” He concluded with the observation, “The US Department of Defense and other news media use the term ‘insurgent.’ Still, the issue unfortunately has morphed into an ideological debate rather than a journalistic discussion about style.”

In November 2005, Defense Secretary Donald Rumsfeld attempted to discredit the guerilla fighters and declared that calling them “insurgents” gave them too much legitimacy. Moments later, standing right next to him, General Peter Pace stopped mid-sentence and said, “I have to use the word ‘insurgent’ because I can’t think of a better word right now.”

The fighters referred to as the Iraqi insurgency are typically normal civilians who have been motivated to act because they feel an uninvited aggressor has invaded their country and disturbed their normal way of life. As a result, their daily rituals and comforts have been interrupted, and this has affected everything including jobs, commerce, security, water, and electricity. The predictability of daily life has been unhinged, their national sovereignty has been violated, and in response, individuals have chosen violence as a way to influence the retreat of the occupying forces, in hopes, to restore order. Suffice it to say that most of those who are now labeled as insurgents have different terms for themselves. To the roadside and neighborhood fighters in Iraq whose lives have been thrown into confusion, their fight is not too dissimilar to the French “resistance” against German invaders during World War II. Regardless of what the US government or media may call them as a collective group of disparate factions, depending on their principles, their names for themselves include freedom fighters, nationalists, defenders, or mujahedeen – “holy warriors.”


Shiites, Sunnis, Kurds, Iraqis, neighbors

In the same way that Catholics and Protestants are both Christian denominations, Sunnis and Shiites are all Muslims. While parallels can be drawn to the Catholic/Protestant conflicts and, in turn to in Northern Ireland, the Sunni/Shiite feud has been going on for more than 1,400 years. It started when the Prophet Muhammad died in the year 632. Those who became Shiites believed that leadership of Muslims should be passed to direct descendants of Muhammad. Those who became Sunnis believed the new leader should be elected from those who had the ability to lead.

The country’s neighbors are split – Iranians to the east are predominantly Shiite, and Saudi Arabians and Syrians to the west are mainly Sunni – making Iraq either the middle ground or the battlefield. The Islamic militant groups are also split. Hezbollah is Shiite. Al Qaeda is Sunni. It’s a lot to remember, but immensely important to know in order to understand the conflicts.

There are also secular members of each tribe. For instance, Saddam Hussein was a Sunni Arab, but hardly a religious leader. He and many Ba’athists adopted the rhetoric of Islam in an effort to gain credibility with the people, much in the same way some less-than-religious American politicians invoke the name of God to earn the trust of their largely Christian constituencies.

To make things even more complex, even though Iraq and Iran are both chiefly Shiite, they fought against each other in a terribly bloody war from 1980 to 1988. The war cost over a million lives and created still-lingering animosity among Shiites on both sides of the border for secular and nationalist reasons. The Americans were allies of Iran until a revolution overthrew their government in 1979 and hostages were taken from the US Embassy in Tehran. When Iraq invaded Iran in 1980, the US eventually supported Iraq as a proxy to weaken Iran, and ironically through backdoor deals, also provided arms to Iran. The Soviet Union supplied more arms to Iraq, while North Korea, Syria, and Libya sent assistance to Iran.


Who are the “insurgents”?

While there are literally dozens of groups in Iraq who are fighting some sort of resistance – or “insurgency” – they can all be categorized into three major factions. They are former members of the Ba’ath Party, former members of the Iraqi army, and foreigners who have descended on Iraq for a variety of reasons.

The Ba’ath Party, of which Saddam Hussein was a member, was a minority group that was founded in Syria in the 1940’s. The Ba’athists came into power in Iraq by overthrowing the government in 1968. They held onto it by force and kept their minority Sunni allies in power as well.

From 1968 until the American invasion in 2003, the minority Sunnis enjoyed power and ruled Iraq with the help of the elite Ba’ath Party. With the introduction of democratic elections, the majority Shiites now control the new Iraqi government. Needless to say, this is a thorn in the side of those Sunnis who had become accustomed to being in control despite their minority status.

Coalition Provisional Authority director Paul Bremer carried out two orders during the first year in Iraq that, perhaps more than anything else, gave birth to the backlash against the Americans by locals who previously – or otherwise – would have been supporters. These directives were the order to prohibit any members of the Ba’ath Party from participating in Iraq’s new government, and the order in May 2003 to disband the Iraqi army.

During Saddam Hussein’s rule, many ordinary Iraqis had joined the Ba’ath Party out of fear rather than loyalty, while others had subscribed to the party line in order to get better jobs. With no quick way to tell which former staff had been Saddam Hussein loyalists, the US edict eliminated their influence by removing the entire party from the process completely. The order affected everyone in government from high-ranking officials to clerks and office workers. Unfortunately, because the Ba’ath Party had been in charge for such a long period of time, the elimination of Ba’athist participation essentially excluded the vast majority of any Iraqis with governmental experience from being able to contribute to the new government. Furthermore, it fueled bitterness in these same people and skepticism in the ability of the inexperienced government to succeed.

In a September 2007 op-ed in the New York Times, Bremer justified the move to disband the Iraqi army, writing, “the largely Shiite draftees of the army were not going to respond to a recall plea from their former commanders, who were primarily Sunnis. It was also agreed that recalling the army would be a political disaster because to the vast majority of Iraqis it was a symbol of the old Baathist-led Sunni ascendancy.”

In much the same way that the expulsion of Ba’athists from government provoked their opposition to the new authorities, Bremer’s dissolution of the Iraqi army instantly created a force of tens of thousands of unemployed and resentful men who no longer had a way to provide for their families, and most importantly, were armed. This happened almost overnight and thus was born the best-equipped wave of retaliation in what is commonly known as the insurgency.

Disgruntled, unemployed Ba’athists and former members of the Iraqi army are the first main distinctions of people who are carrying out attacks. They target American troops, contractors, members of the new Iraqi government, local Iraqi police forces, and anyone who is seen helping any of the above.

Some former Iraqi troops are not inherently anti-American or against the success of the new government, but take up their arms for hire because they have no other options to earn a living. Military operations are what these have been trained to do for years. Simply getting a job would be enough to squash their impetus for killing, but with no prospect of employment, foreign interests and groups who may be ideologically opposed to these former soldiers pay up to several hundred dollars per attack. This amounts to a huge and desperately coveted sum of money as an average Iraqi’s annual income is about 4% that of the average American. Furthermore, the CIA estimates 30% of Iraq’s workforce is unemployed.

The third major group implementing guerilla tactics in Iraq are foreign fighters and bombers who have come in from nearby countries such as Syria, Sudan, Yemen, and Jordan in order to carry out attacks on Americans. Iraq’s porous borders provide easy entry to the country from any number of points. Religious fundamentalists who see the United States as a great Satan, or a purveyor of immoral, decadent, or anti-Islamic values have dedicated themselves to striking Americans in exchange for everything from cash for rocket attacks to martyrdom in the role of suicide bombers.

Foreign fighters are by far the smallest group attacking American and Iraqi government personnel and assets. Despite the characterization of Iraq as a “central front in the war on terrorism,” a Defense Department report found that of the more than 1,600 bombs that exploded in Iraq during the month of July 2006, less than 6% of them originated from foreign operations including Al Qaeda. On the other hand, ninety-four percent of the attacks targeted at American-led forces were from Iraqis.


What do they want and can the Americans or the new Iraqi government give it to them?

The longer the Americans are on the ground, it seems, the greater motivation these groups have for their attacks. They are all either opposed to the American presence, opposed to the new Iraqi government, seeking revenge for past killings or imprisonments, performing strikes for hire, or some combination of all the above. Getting the Americans to leave Iraq would achieve a common goal for many of these religious and secular factions who may ideologically agree on little else.

The Washington Post obtained a report of State Department polling data in September 2006 that provided rare insight into the feeling on the street in Iraq. They found that nearly three-quarters of the Baghdad residents polled “said they would feel safer if US and other foreign forces left Iraq, with 65 percent of those asked favoring an immediate pullout.”

Support for American withdrawal is the majority opinion in all areas of Iraq except the Kurdish northern areas. In that area, the regional flag of Kurdistan is frequently flown as opposed to the Iraqi national flag. The area is comparatively peaceful and enjoys the benefits of its oil-rich ground. A February 2007 “60 Minutes” report titled “The Other Iraq” profiled this “peaceful swath of Iraq where Americans are liked, violence rare and the Kurdish people yearn to be their own separate country.” In fact, not a single American soldier has been killed in the Kurdish region since the beginning of the war. The Kurds fear a US abandonment would open the door to incursions from the south and a potential loss of oil revenues and security. It could also lead to a greater chance of conflict with their neighbors in Turkey, many of whom share Kurdish ethnicity, but also a great deal of tension.

In essence, other than a departure of American forces, each bloc of the so-called insurgency wants something different, but they employ common methods in their efforts to force change.

Obviously, the vast majority of Iraqis want the same things that people everywhere else in the world want, and what the people in Kurdistan celebrate: food, shelter, security, medical care, and comfort. Restoration of the basic infrastructure of electrical and water service; the rebuilding of roads, bridges, and buildings; the re-emergence of institutions like schools, hospitals, and broadcasting; and the reliability of peace and quiet may all be decades away for most of Iraq, even if the fighting were to stop tonight.

The minority Sunnis want guarantees of representation in the new government. Former members of the Ba’ath Party want the opportunity to participate and gain official employment without fear of reprisals. So far, both groups have been blocked by the majority Shiites who harbor resentment from years of Sunni and Ba’athist political domination. Understandably, Shiites want to enjoy the benefits of the democratic majority their sheer numbers mandate and that they have waited so long to enjoy.

The troops of the former Iraqi army also want employment and a way to provide for their families. Many of them would like to be permitted to join Iraq’s new national armed forces or local police squads, but also, so far, they have been prohibited from doing so.

The foreign operatives, religious militants, and suicide bombers want – at most – to kill Americans wherever they may be, and at least, to force the United States to revise its foreign policy to a more respectful discourse that includes a list of ends such as the establishment of a Palestinian state, a cessation of interference in Middle Eastern affairs, and a removal of US troops and bases from soil they see as sacred. Chances are, if the Americans left Iraq, so, too, would the influence of Al Qaeda and other foreign entities.

For those Iraqis who have been wrongfully imprisoned or abused, or whose family members have been innocently killed in the crossfire, there may be nothing that can repair their animosity, calm their anger, or replace their losses. Whether you call it a quagmire, a disappointment, or an ongoing effort, one of the few things that most could agree on is that perhaps only the passing of generations can serve to rebuild all that has been lost so far by so many in this tremendously multilayered conflict.

-Scott Ritcher, newsnshit.com
10/22/2007 0 Comments | Add Comment
Kentuckians vs Kentucky
Scott

As you may already know, I am planning on running for a seat in Kentucky's State Senate in 2008.

Kentucky has 38 state senators who represent different areas of the state at the capitol in Frankfort. My district includes Germantown, Old Louisville, the U of L and Churchill Downs areas, Smoketown, Shelby Park, Buechel, the airport, and the Original Highlands.

You may recall that I ran for mayor of Louisville in 1998. The senate district I'm running in this time is a lot smaller than the entire city, so I feel getting elected is more realistically achievable. Most of the people who voted for me in 1998 and most of the people who may already know who I am live in this district. Back then, while only raising and spending $1000, I came in third of four candidates. I think of that experience as one of getting my feet wet, and this time, ten years later, I plan to come in first.

The reason I am doing this is simple. There are many basic things in Kentucky, and in most of America, that the majority of people have wanted to change since I was a kid. Yet none of these things have ever changed. In many cases, the situations people live in have gotten worse and, in Kentucky, the programs and the pieces of legislation that most people want have never even been introduced.

The issues are basic things that involve how we as people treat each other and the degree of seriousness with which our leaders hold their charge. Some are popular issues like health care and education, while others are less exciting, nuts-and-bolts issues about the mechanics of how our government and elections work - or don't work - when big money and corporate influences interfere.

Our legislature, rather than addressing the concerns that poll after poll have shown citizens want to have resolved, wastes its time with frivolous bills and non-binding resolutions such as honoring citizens on their birthdays and declaring official recognition for everything from basketball teams to particular types of music. Just last week, they approved taking money out of the fund that is supposed to expand services in coal mining communities and combining it with hundreds of millions of dollars in taxes that we paid into the system, in order to hand it over to the world's largest coal company (a company that posted record profits last year). Is that why we pay taxes?

All of this is a waste of our resources while there are people in Kentucky who are homeless, hungry, uninsured, underpaid, under-educated, overworked, struggling to pay the bills, disappointed in the results they see from their efforts, or disappointed in their government. Chances are, everybody who reads this falls into at least one of those categories.

This election is at the same time as the presidential election, so we're still about 14 months out. You'll see a lot of posts from me in that time asking for your help in spreading the word.

I can't officially announce my candidacy - nor will I know if anyone else is running - until January, but I have a website in place now at www.BallotRevolution.org. You can get more info there, vote in a poll, send me your thoughts, register for updates, volunteer, get some stickers and buttons, and make a contribution.

I feel it is my obligation to do this because I am one of the few people I know who has the passion for it and stomach for it. In that respect, I think you are a lucky person to know someone like me who gives a shit enough to do something about it. I mean, we could all just as easily continue to complain that no one is standing up for anything, but the truth is that we have the ability to stand up and we are wasting everyone's time here if we don't.

I would appreciate anything you can do to help, such as reposting my bulletins, distributing information, putting a sticker on your car or a sign in your yard, and telling your friends and neighbors that you know a guy who is running for state senate who you know will make a stink about how the Kentuckians who mine our coal, teach our children, harvest our food, and protect our streets don't get nearly the support they need, and the resources Kentucky has are squandered for the benefit of a few. Even if you don't live in my district, the exposure and word-of-mouth are essential.

This is about what we as Kentuckians want and deserve; to know that our taxes and our efforts are being used for the greater good of Kentucky; for Kentucky to be an innovator in the way it takes care of its own people; for us to feel like paying taxes is the least we can do for what we get in return.

Thanks,
Scott Ritcher

 www.BallotRevolution.org. 

09/10/2007 0 Comments | Add Comment
In Banker's Clothing: Predatory practices in mainstream banking
Scott

24 April 2007

I posted a bulletin to my MySpace friends yesterday that appears to have struck a nerve.

Very disappointed in my relationship with National City Bank, I asked people to tell me whether they love or hate their banks so I could be better educated in choosing a new one.

The resulting waterfall of "I hate my bank" messages was fairly substantial. It seems like people feel that banking is a necessary evil and the relationship that people have with their banks is, more often than not, only beneficial to the bank.

I'd like to live a cash-only existence, and I try to as much as I can, but I need an account for basic transactions like paying bills, buying things by phone or Internet, or to access the money if someone pays me with a check.

I don't like using banks and I'm not sure why I should trust anyone who offers to keep my money for me.

My experiences with Sovereign Bank when I lived in Rhode Island and with National City Bank here in Louisville have been enough to move me from "not liking" banks to being vehemently anti-bank. And based on the responses I received from friends over the past 24 hours, my experiences have not been unique, nor is my resulting frustration especially unusual.

Stealth fees

Why do people hate their banks? Well, I found that it's almost always because of what are called "stealth fees."

These fees occur when a customer overdraws their account – either at an ATM or through a debit card purchase – without being warned that their account has insufficient funds to cover the transaction. The bank approves the transaction as a "convenience" to the customer and adds a fee to their account. This happens silently, without the bank ever alerting the customer that their account is empty and that a fee has been levied. It is not uncommon for these fees to be as high as $35 each.

After completing the purchase and being charged a fee, the customer can then go to another store, make another purchase, incur another fee, and even withdraw funds from an ATM, all the while being charged a huge fee for each transaction and never being informed that their account is overdrawn. It could be hours, days, or weeks until a customer finds out, and by that time the fees can amount to hundreds of dollars of debt beyond their zero balance. Many banks also add a daily charge to overdrawn accounts.

In theory, if I think I have $10 in the bank, but I really have $9.50, it could play out like this: I buy dinner at the Old Spaghetti Factory for $9.65; the check comes, I present my debit card, the transaction is approved, I sign it and leave, never knowing that I just paid $43.65 for dinner. A week later, I deposit a check for $75 and notice afterward that my balance is negative $6.65. How? Not only did I pay an extra $34 for dinner last week, I was also being charged $8 a day on every day since then for being continually overdrawn. So my dinner actually cost me $91.65. I would have ordered a bottle of wine had I known I was getting fucked so hard that night!

Huge profits at the expense of those who can least afford it

Alex Berenson of the New York Times reported in 2003 that Washington Mutual Bank earned over one billion dollars through stealth overdraft fees in a single year, according to industry analyst estimates. That's nearly $3 million a day. And there are six other banks in the country larger than Washington Mutual.

In all, checking account customers pay over $10 billion a year in these fees. The Center for Responsible Lending, a North Carolina-based, non-profit research group, found in 2006 that the overwhelming majority of these fees – nearly three-quarters – are paid by financially-distressed customers who live "on the margins of solvency." The added burden of stealth overdraft fees make providing for basic needs and living above zero even greater challenges.

Banks are enormous corporations and it's almost impossible to grasp how much money $10 billion is. In more understandable terms, the ten billion dollars that these companies generated through stealth fees in a single year is enough money to provide public housing for all 3 million homeless Americans for about a year and a half. So how much money are these banks making from this predatory practice? Enough to eliminate homelessness in the United States. And then some.

Many would argue that each person should know how much money they have in the bank, and that banks have the right to charge these fees to the accounts of customers who exceed their balances, because the bank is essentially providing a loan.

If that were true, and these fees are, in fact, considered short-term loans, the CRL study found that the median annual percentage rate for a point-of-sale overdraft "loan" is more than 20,000%. Yes, more than twenty-thousand percent. Honestly, nobody wants that loan and no one would consider 20,000% interest to be "convenient."

Creative manipulation of technology

While it's relatively difficult to inform a customer that they're inadvertently writing a bad check, obviously, the technology exists to decline a debit card transaction, ATM withdrawal, or electronic purchase if a customer's account is insufficiently funded.

Use of this technology was standard industry practice and historically protected banks from overdrafts until its creative use for extra profits became evident over the past decade. About 50% of all income in the banking industry is now generated from fees, and the CRL says the majority of overdrafts today – 46% – are caused by instantly-verifiable transactions – that is, debit card purchases and ATM withdrawals. Paper checks only account for 27% of overdrafts.

Berenson reported that because these programs have been so outrageously profitable, it has changed the way banks do business. Stealth overdraft fees, ATM usage costs, or even a price for getting a statement in the mail; they're all adding up to huge profits.

A practice among many banks now is to keep transaction-stopping technology on hold while allowing a customer to run up overdraft fees. The bank will eventually implement their ability to decline transactions, but only after the negative balance grows to the point where it becomes a collection risk.

In the same way that institutions are able to instantly verify whether a customer is overdrawing their account, they can also allow customers to view their recent activity in real time. Many banks don't do this. Instead, a customer's online account access may deceptively not reveal recent transactions until several days after they occur. This delay and lack of information about my account has been the most extensive source of irritation and confusion I've had with National City.

Under the guide of courtesy

It has to be noted that when a customer overdraws their account they are breaking the law and can be prosecuted for theft. In a significant shift, banks are now enabling this illegality, in fact, encouraging it. A quick look at some of the literature advertising "courtesy overdraft protection" at your local branch is all the evidence you need of this.

Historically, banks have dissuaded customers from making mistakes that would cause their accounts to become overdrawn. Overdrawn customers were a liability. And overdraft protection used to be something you could choose to add to your account to protect yourself from miscalculations and extra charges.

Today, the option of opening a new account without this expensive, shadowy "courtesy" is, in many cases, not offered. In instances where it is available, the customer must be "creditworthy" and explicitly request the more traditional form of overdraft protection. This type of account is typically available to higher-income customers and is therefore not really an option for people who have trouble keeping money in the bank. As for an account that just declines excessive transactions? You might have to forget about that.

Thanks anyway

In the CRL study I've referenced a few times here, researchers for the Center surveyed 2,400 checking account holders and analyzed an independent database of personal banking account transactions documenting more than 8,500 overdrafts.

Like myself, and most people I know who expressed their opinion to me, the majority of customers who participated in the CRL survey – 60% – said they would prefer that the bank decline a purchase if they didn't have the money their account, rather than approve it with the addition of a "courtesy" fee. Almost everyone surveyed by the researchers said they would cancel their ATM transaction if they were first warned that it would put their account into the red.

Letting a transaction proceed and adding a fee to it is hardly a courteous thing to do if the customer would prefer that you not do it. That's like helping me across the street if I'd rather stay where I am.


"The purpose of [courtesy overdraft protection] is not, in my opinion, to help the consumer. These programs are only to increase fee income."
Philip Goddard, deputy director
Indiana Department of Financial Institutions

The bank vs the customer

What kind of business is a bank? They're only open when people with regular jobs are at work. Sure, National City has Saturday hours. Three of them! 9 AM to noon. The post office is open longer than that.

Almost half their revenue comes from fees; not from interest on loans, not from helping people, and not even from providing a service their customers want.

What kind of people run businesses that intentionally create confusion in order to prey on their customers' inability to make ends meet? Why are these people so willing to abuse the relationship they have with their customers? Do they not realize that such a relationship cannot be sustained? Sooner or later, people will find other ways to do business.

Consumers who have been forced out of mainstream banking by fees that result in debt and bad credit – and banking customers who have left the industry willingly – have resorted to high-interest payday loans and check-cashing operations to conduct their financial business. These small shops have been marginalized in the media as wolves and sharks, yet mainstream banks employ the same tactics. At the very least, I find it perhaps a bit more honorable that those businesses don't hide their predatory gouging behind cute marketing terms like "courtesy" and "protection." They're not pretending to do anyone any favors and they're not acting like they want to be my friend or that we're on the same team.

Corporate banks are preying on people who can't afford it, quietly pushing them into huge fees, and telling these struggling people that it's all their own damn fault. I don't believe that it is.

My non-scientific poll of friends

In my personal, nonscientific survey that started all this – that is, from the people who wrote in response to my bulletin – the bank that most of my friends had good things to say about was Stock Yards Bank. Twenty-five percent of the people I heard from who had something good to say about a bank said it about Stock Yards.

On the other hand, one friend said their experience with Stock Yards was a "bummer."

Coming in second with 20% of the positive responses was Chase. No subsequent banks had more than 7% positives without having an equal or greater number of negatives. PNC Bank had as many disappointed customers as satisfied ones; 10% each way. Fifth Third Bank's customers are also split down the middle, having one person on each side of the fence.

Seven percent of all respondents suggested I move my account to a credit union rather than a bank.

Of the people who had bad things to say about their bank, 40% of them mentioned National City as being the source of that animosity. That is probably partially due to the fact that I was complaining about National City and people wanted me to know they had a similar experience. It certainly made me feel better that I wasn't alone and that all this isn't entirely my fault.

One friend recounted an experience with National City in which he incurred over a thousand dollars in fees. He had both a checking and savings account with National City, and each time he got paid, he deposited his paycheck into his checking account. His accounts were set up to automatically withdrawal $50 from his checking every other week and deposit it into his savings. Eventually he decided to switch banks and he closed both of his National City accounts.

Some time later, he found out that his National City checking account – which he closed – had been amassing courtesy overdraft charges every two weeks when the automatic withdrawal to his savings account – which he had also closed – was coming up empty. Did you get that? He was silently being charged for a non-existent account's inability to complete a transaction to another non-existent account.

He refused to pay the fees because both accounts had been canceled and therefore any automatic activity for those accounts should also have have been canceled by default, right? National City apparently didn't see it that way. They told him it was his responsibility to ensure that all automatically-scheduled transactions were also terminated and they turned him over to a collection agency.

He continued to dispute the charges and the collection agency eventually forwarded his information to a banking industry union. This group, in turn, placed his new account at a different bank on hold until the charges were paid.

Something similar happened to me when I lived in Rhode Island. I had a dispute with Sovereign Bank over excessive charges, so I closed the account and switched to a different bank. A couple months later, Sovereign was able to shut down my new account and prohibit me from opening an account at any other bank until they got what they wanted out of me. It took weeks to sort out and made it virtually impossible to conduct any business with anyone who didn't use cash.

All said, I guess I'm going to switch to Stock Yards, and I can only hope they have some really awesome toaster or lawn chair waiting for me as a "courtesy" gift for signing up.

- Scott Ritcher

See also:
"Debit Card Danger" by the Center for Responsible Lending, 2007, responsiblelending.org
"Banks are reaping billions from stealth overdraft charges" by Alex Berenson, New York Times & Seattle Post-Intelligencer
04/25/2007 1 Comments | Add Comment
Big Money Chart: The money to rebuild New Orleans is in Iraq
Scott

02 April 2006


The Big Money Chart is new! A fantastic new chart depicts 26 deifferent huge amounts of money, from the cost of rebuilding New Orleans, to the GDP of Nicaragua, to General Electric's gross earnings, and compares them all side by side.

Open the Big Money Chart

Download the Big Money Chart as a PDF (288 kb)

04/25/2007 0 Comments | Add Comment
Who's a good dog?
Scott

20 April 2006


The American Pet Products Manufacturer's Association estimates that $36.3 billion was spent on the care of U.S. pets in 2005. $14.7 billion of that was food alone.

The United States is also home to about 33 million hungry people. If half the money spent on dogs, cats, and other pet animals in the U.S. each year was spent on helping to feed America's hungry humans, there would be no hungry people.

Half the money spent on pets is roughly equal $1.50 per day per hungry person, which might not be much, but makes all the difference when a dog is eating it instead.

In fact, there are more than twice as many well-fed dogs as there are hungry people.

In the U.S. there are:
90,500,000 pet cats
73,900,000 pet dogs
33,000,000 people without sufficient food

If each pet owner fed their animal 20% less, the extra money could feed 5.28 million hungry Americans for a year, about one-sixth of the total. If pet owners bought 50% cheaper food, the savings could feed twice as many.
04/25/2007 0 Comments | Add Comment
Most new cars contain data recorders
Scott

21 August 2006


CNN/Money has reported that 65% of new cars from model year 2005 are equipped with data recorders similar to the "black box" flight data recorders used on major airliners.

Most people who buy new cars may be unaware that their speed, steering actions, engine conditions, and other vehicle movements are being recorded. Because of this, the National Highway Traffic Safety Administration has now mandated that consumers be informed of the existence of these devices before purchasing a vehicle. In fact, the new regulation stipulates that information about the recorder must appear in the owner's manual of every car containing such a device beginning with 2011 models.

The devices are known as Event Data Recorders, or EDRs, and already come pre-installed on the majority of new cars being sold in the United States. Most EDRs are entwined in the circuitry and microprocessors that control the vehicle's performance and are therefore almost impossible to disable without rendering the car immobile.

Event Data Recorders do not record voices or any sounds, just data captured from movements of the vehicle and its components.
04/25/2007 0 Comments | Add Comment
Still little construction progress on the world's largest "For Rent" sign
Scott

06 September 2006

Hear this story the NNS podcast.

Everybody loves to hate their landlord. Larry Silverstein, the controversial leaseholder of the World Trade Center site is no different.

Most people would agree that Silverstein, 75, is the evil landlord in the World Trade Center construction controversy. After all, he's old, cranky, and he signed a 99-year lease on the property just six weeks before a couple airplanes turned it into, as Ray Nagin put it, "a hole in the ground."

But despite the lack of progress in building the world's largest "For Rent" sign (er, the Freedom Tower), Silverstein, is still paying $10 million a month in rent to his landlord, the Port Authority of New York and New Jersey, which makes him just another disgruntled tenant.

While the 1,776-foot-tall Freedom Tower has faced delays, redesigns, squabbles, and all under the microscope of the international media, Silverstein has been quietly working in the background on that which hecan control. Namely, an adjacent building called Seven World Trade Center.

The rebuilding process on building 7, has been much faster and easier for several reasons, including that no one died in that particular collapse, and the property is part of a separate, earlier lease Silverstein made prior to the main WTC site.

Seven World Trade Center is the only building planned for the area which carries the same name as its predecessor. The original Seven World Trade Center, while not hit by an aircraft, was significantly damaged after the collapse of the twin towers and burned for serveral hours.

Silverstein recounted in the PBS documentary "America Rebuilds" that the decision was made later in the day on September 11th to "pull" the building. That means, depending on who you ask, that they decided to either pull the firefighters out of the building fearing an impending collapse, or that the building itself was somehow intentionally demolished.

Regardless, the new 52-story, Seven World Trade Center building has already been completed. It opened for business in May 2006, and now about 50% leased, it houses Silverstein's personal office, which overlooks Ground Zero.

Meanwhile, although the Freedom Tower's cornerstone was laid in a cermony in July 2004, it is expected to be as late as 2008 before construction progress on that building even reaches the street level.

All along, until there is actually an inhabitable building that tenants will actually feel safe moving into, Silverstein will be contractually obliged to continue paying $10 million a month in rent. And you thought your landlord was a jerk for not fixing the toilet.
04/25/2007 0 Comments | Add Comment
America's hunger, housing and health care solutions are in Iraq
Scott

17 October 2006

The enormous cost of the of the wars in Iraq and Afghanistan, $440 billion, is enough money to transform the United States into a dramatically different place.

Imagine America as a nation without any homeless, hungry or uninsured citizens.

As the above chart shows, the money the US has spent in Iraq and Afghanistan could provide a year of health care coverage for America's 45 million uninsured citizens, three years of food our 35 million hungry, and five years of shelter in public housing for the 3 million homeless Americans.

Even after feeding, housing, and insuring every American in need, we'd still have enough money left over to take everyone in Iraq, Iran, North Korea and Afghanistan out to a nice dinner... just to patch things up.

It's even worth noting that the annual US military budget outside of these two wars (about $439 billion in 2007) would still be equivalent to the combined annual military budgets of China, Japan, France, UK, Germany, Italy, South Korea, India, Saudi Arabia, Australia, Turkey, Brazil and Spain.


newsnshit.com [Source figures: Annual health care spending by Americans according to the New Yorker, 2005, $5267 per capita (about $1.56 trillion). The National Law Center on Homelessness and Poverty estimated 3 million people in the US were homeless for at least some part of 2002. From 2003 New York City Housing Authority figures, the cost of public housing can be $2160 per occupant per year. Based on the 2000 Census and the USDA report, "Household Food Security in the United States, 2002," it is estimated there are 35 million hungry people in the US. World Food Program food rations cost 29 cents per day, while the average daily expenditure on food in the developed world is $10. The figure of $3.55 per day per person was used to estimate the cost of feeding underfed Americans. Most charities operate at much lower costs.]

 

 

04/25/2007 0 Comments | Add Comment
Top US General says homosexuality is "immoral"
Scott

13 March 2007

Top Marine General Peter Pace, in an interview with the Chicago Tribune, stated that he feels homosexuality is immoral and akin to adultery.

Pace also said that he supports the military's so-called "don't ask/don't tell" policy, but it would be his personal preference for the military to not have non-heterosexual members. That rule "don't ask/don't tell" allows homosexuals to serve in the military as long as their sexual preference is not disclosed. It has been in effect since 1994.

The Tribune quoted Pace as saying, "I believe that homosexual acts between individuals are immoral and that we should not condone immoral acts... I do not believe that the armed forces of the United States are well served by a saying through our policies that it's okay to be immoral in any way."

The Servicemembers Legal Defense Network, a group which has assisted enlisted personnel who claim to have been wrongfully discharged due to their sexual orientation, is outraged, according to MSNBC. The group's website has numbers estimating 65,000 enlisted non-heterosexuals.

While not everyone agrees on the morality of being gay, most people do agree on the moral question of other military activities.

Neither the Tribune nor MSNBC.com articles mention whether Gen. Pace was asked about killing people. Or indefinite detention without criminal charges. Or unprovoked invasion of a sovereign country. ()

If, in fact, the Department of Defense "should not condone immoral acts," it sounds to me like the war is over and we have a lot of military hardware to sell. General Pace's beliefs, though, are his personal thoughts and not those of the Pentagon.

- Scott Ritcher

Photo: Department of Defense
04/25/2007 0 Comments | Add Comment
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