Waaah- banks got too much money. It hurts them!
Unbelievable, but this really struck my funny bone. I can be weird that way
sometimes:-)
Talk about insanity..Too much money makes people, and banks, do crazy shit. Damn!
Bank Of New York Mellon Will Charge Clients To Hold Over $50M In Deposits
NEW YORK -- Bank of New York Mellon Corp. said Thursday that it will charge its customers a fee to hold cash deposits over $50 million.
The bank said it has seen such a large increase in deposits over the last month that it will charge a 0.13 percent fee to clients with "extraordinary high deposit levels." Bank of New York Mellon, which has $23.6 trillion in client assets under its custody, said customers have moved money to cash as a safe haven in the past month as investments like stocks and bonds have become increasingly volatile.
And MONEY HAS FEELINGS!!! LOL!! (Maybe corporations really are people! OMG!)
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"The funds felt really exposed," to the possibility of default, said Brad Durham, managing director of EPFR Global, a fund research company.
These large movements into cash from pension funds and money market funds underscore the degree of nervousness in the market. That fear has only gotten worse as a string of reports point to slow growth in the U.S. economy.
Naked Money! The PORN of the rich!
Don't rich people know what MATTRESSES are for?? Forget the banks. OY!!