Bonfire of the Absurdities in News New Format

Now Banks Don’t Want Deposits

Another change you can’t believe (in): thanks to Obamanomics, banks don’t want deposits. We thought it was just sludge deposits or something they don’t want but, no, they don’t want money either. With the advent of the non-recovery recovery, it just sits in their vaults gathering dust like Mooch’s law degree.

This post was last modified on August 28, 2011

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Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (3)

Joe Redfield says:

August 29, 2011 at 5:50 pm

It's a very clever move by El Presidente to create jobs in the mattress industry.
poppajoe49 says:

August 28, 2011 at 6:23 pm

At least one firm, Bank of New York Mellon Corp., tried to recoup some of the costs by charging depositors 13 basis points, or 0.13 percent, for holding unusually high balances.

WHAT? Banks charging you to keep your money?
Way to go Obama!
- danybhoy says:
  
  August 28, 2011 at 7:15 pm
  
  I'm sure A.G Holder will get right on that.