It’s time for a government bailout of GME shareholders at $10,000 per share. This would be roughly equivalent to the $700 billion bank bailout in 08 that was necessary to prevent ‘systemic risk’.

Edit 2/1: I’ve been banned my WSB mods from posting. Can any mods help me get unbanned? I’m thinking it’s a rogue mod who’s angry I posted about GME and SLV both being squeeze plays. Note I also posted about SLV before all this conspiracy stuff including weeks ago.

The short positions put on by the hedge funds are posing a systemic risk to the market. Bail out both sides by liquidating the hedge funds, but not the brokers or clearinghouses, but also put a buy order in for $10k per share to allow GME shareholders to exit. Isn’t $700 billion better than a financial meltdown? Just like last time you can ‘put rules in place to make sure this won’t happen again’

In 2008 the banks held risky assets and got bailed out because they said the innocent normal people would be hurt even more if you didn’t bail them out, so the government did it.

We posed a risk to the liquidity of the hedge funds, brokers, and clearinghouses yesterday. By bankrupting them it would probably cause a temporary stock market crash as they liquidate their positions.

Are we not now in the same position as the banks were in 2008? Buy us out of our positions for $700 billion to save the rest of the market and the normal people right?

Edit because it got attention: if this ever was a reality it would in the form of a loan to clearinghouses and brokers to cover any losses up to $10k per share. They would have to pay it back over time. The government would get the money back and reimburse taxpayers, while at the same time collecting taxes from the gains of the retail investors. Long term the clearinghouses and brokers recover, the market continues to function, and then they never let hedge funds put on a risky play like that ever again. The hedge funds involved are deservedly bankrupt, and the retail traders get the reward they deserve by playing the free market game by the rules.

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📅︎ Jan 29
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Banks halt business with Trump after U.S. Capitol riots nbcnews.com/politics/cong…
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📰︎ r/news
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👤︎ u/JamesKBoyd
📅︎ Jan 12
🚨︎ report
‘Saving For A Down Payment Has Never Been Worse,’ Says National Bank Of Canada huffingtonpost.ca/entry/s…
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📰︎ r/canada
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📅︎ Feb 04
🚨︎ report
CIBC, Bank of America, UBS and TD Bank stand accused of coordinating “abusive” naked short selling and spoofing strategies

International brokers sued over naked short selling allegations CIBC, Bank of America, UBS and TD Bank stand accused of coordinating “abusive” naked short selling and spoofing strategies in US and Canadian stock markets by a Bermuda hedge fund that claims to have lost tens of millions of dollars as a result.

Harrington Global Opportunity Fund has filed a suit at the US District Court for the Southern District of New York alleging that various US and Canadian financial institutions, through their broker divisions, manipulated markets and drove down pharmaceutical company ADVANZ PHARMA’s (formerly Concordia) share price in 2016.

The specialist pharmaceutical recapitalised and rebranded in 2018 after being embroiled in a long-running dispute over apparent price hikes and accusations of mismanagement by its founder and CEO Mark Thompson, who stepped down in 2016.

According to the suit, the defendants, which include several unnamed US and Canadian individuals, allegedly flooded the market with false sell signals by simultaneous naked short selling — in which the trader does not borrow a stock, or determine that it can be borrowed, before they short sell — and spoofing — a form of high-frequency trading that artificially inflates perceived demand of a security — which created millions of ‘phantom’ shares.

These practices violate the US Securities Exchange Act 1934 and Regulation SHO.

The result, Harrington suggests, is that Concordia’s stock price tumbled from $34.77 to $1.83 over 11 months.

According to the complaint, Harrington sold 9 million Concordia shares on US and Canadian markets, including the NASDAQ and the Toronto Stock Exchange, in response to the defendants’ alleged illegal market manipulation.

Harrington is seeking damages, legal fees and interest.

It is alleged that in 2016 there were approximately 238 million shares of Concordia stock that were sold short on the Canadian and US exchanges, constituting around 58 per cent of the approximately 410 million Concordia shares traded during the period in question.

However, Harrington argues that only 40 million shares were actually issued for trading, meaning the short sale turnover rate was approximately 600 per cent.

“The enormous discrepancy between the 40 million shares issued by Concordia for trading and the approximately 410 million Concordia shares traded during this period represents an astonishingly high turnover rate of 1,000 per cent,” the suit states.

The fund alleges that a “

... keep reading on reddit ➡

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📰︎ r/stocks
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📅︎ Feb 12
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Used to pay my rent to my roommate in a funny way each month. One month I went to the bank and got it all in ones.
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📰︎ r/funny
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📅︎ Jan 19
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Older Asian Man attacked at Bank of America in San Leandro, $15k Stolen twitter.com/DionLimTV/sta…
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📰︎ r/bayarea
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📅︎ Feb 10
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Reminder: this fucking legend HELD for TWO FUCKING YEARS while his clients, bosses and banks were constantly breathing down his throat. You fucking apes are sweating after just TWO FUCKING WEEKS from the comfort of your armchairs? Big risks, big rewards. Make the diamond hand king proud!
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📅︎ Feb 11
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There is officially a silver shortage, and silver miners ($AG and $SILJ) are going to triple by May. This isn't a squeeze - it's a bank run.

The U.S. Mint just admitted they can't print enough silver and gold coins to meet demand. CNBC has it wrong - this didn't start with WSB. People are losing faith in the dollar and wanna hold fucking metal.

You don't think there's a shortage? Go try to buy a 1,000 ounce bar of silver. Google it. If you happen to find a dealer who isn't out of stock, you'll be paying an insane premium over the spot price.

I'm not gonna get into all the silver manipulation conspiracies. Let's stick to Retard Economics 101: if there's a shortage of the good it means the price is too damn low.

Because of the differential between the physical spot price of silver, and the futures price in the COMEX there's an arbitrage: Anybody with any serious cash today could take silver delivery from the COMEX at $27, and quickly flip it for well over $30. Futures deliveries last year were already at a record:

https://preview.redd.it/djlle4wb8hh61.png?width=1466&format=png&auto=webp&s=bd198b6fa8db58121a9654f2e46fe668ec342268

But the amount of folks standing for March delivery might just break the bank... because there's just not enough Silver to deliver to everyone who wants it. That's why (as another WSB post already detailed) The SLV ETF amended their prospectus to basically say we can't actually get the silver that we need.

If silver futures start creeping up, this thing could completely snowball. Because those industrial consumers of silver - Tesla, Apple, Medical stuff - absolutely cannot afford to have their production lines shut down for a month because of one input, and will pay anything to make sure they get those 1k bars in hand.

How to make tendies? Look what happened to AG and SILJ a few weeks ago when Silver went up 9%. Those two tickers FLEW. Buy calls on them for July if you're responsible, April if you're a degenerate gambler.

How to do your part and make sure the squeeze happens? Buy PSLV. That fund is going to actually take delivery of 1,000 ounce bars on your behalf.

Positions: $PSLV shares, $AG July calls, strike 20, $SILJ August calls strike 25.

DON'T BUY $SLV

EDIT: I received a message from a smart dude suggesting that this news actually means that $SLV is vulnerable, and buying it is also a direct way to create tightness in the silver market. Could be

... keep reading on reddit ➡

👍︎ 2k
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👤︎ u/ephyfish
📅︎ Feb 14
🚨︎ report
In Saving Mr Banks (2013), Tom Hanks wears a tie that Walt Disney wore in real life. The strange symbol is the logo for “Smoke Tree Ranch”, a real place in Palm Springs which was a vacation spot for Walt Disney and his family.
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📅︎ Feb 02
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TIL the operation of the largest fraud in US history was fairly simple. Bernie Madoff deposited all his investors' money into his Chase bank account and paid them off as necessary. At its height his account balance was over $5 billion. The scheme collapsed when he ran out of money. en.wikipedia.org/wiki/Ber…
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👤︎ u/Elyk2020
📅︎ Jan 04
🚨︎ report
'$600 Is Not Enough,' Say Progressives as Congressional Leaders Reach Covid Relief Deal | "How are the millions of people facing evictions, remaining unemployed, standing in food bank and soup kitchen lines supposed to live off of $600? We didn't send help for eight months." commondreams.org/news/202…
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📰︎ r/politics
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📅︎ Dec 21 2020
🚨︎ report
YSK that if attached your bank account to Venmo, a company called Plaid is recording all your back account activity.

Why YSK: Plaid, which Venmo uses, stores your bank account password and uses it to record all your activity.

Plaid was recently sued by a bank: https://www.ctvnews.ca/business/td-bank-files-lawsuit-against-plaid-accusing-it-of-trying-to-dupe-consumers-1.5145326

> "In reality, however, consumers are unwittingly giving their login credentials to the defendant, who takes the information, stores it on its servers, and uses it to mine consumers' bank records for valuable data (e.g., transaction histories, loans, etc.), which the defendant monetizes by selling to third parties," TD claimed in the court records.

Other apps that use Plaid: Robinhood, Coinbase, Betterment, and Acorns.

👍︎ 33k
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📅︎ Jan 13
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Crypto Nears $1.5 trillion As Bitcoin Surpasses World’s Biggest Banks decrypt.co/57534/crypto-n…
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📅︎ Feb 12
🚨︎ report
my favourite way of getting to maze bank :) v.redd.it/vps3rnik8hf61
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📰︎ r/gtaonline
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📅︎ Feb 04
🚨︎ report
CONFIRMED BANK MEGATHREAD 2.0
Bank Name: Received?
Abacus N/A
ABNB Federal Credit Union N/A
Academy Bank N/A
Advancial Credit Union N/A
Advantis Credit Union N/A
Affinity Credit Union N/A
Alaska Credit Union N/A
Alliant Credit Union N/A
All In Federal Credit Union N/A
All South Federal Credit Union N/A
Ally Bank N/A
Altura Credit Union N/A
America First Credit Union N/A
American Express Bluebird Deposited 12/29
American Express Serve Deposited 12/30
American Heritage Credit Union N/A
American Savings Bank N/A
Amoco Federal Credit Union N/A
Arizona Central Credit Union N/A
Arkansas Federal Credit Union N/A
Armstrong Bank N/A
Arrowhead Credit Union Deposited 12/30
Artisan's Bank N/A
Arvest N/A
Ascend Federal Credit Union N/A
Aspiration N/A
Associated Bank N/A
Atlantic Union N/A
Austin Bank N/A
Axos Deposited 12/31
Azura Credit Union N/A
BankMobile N/A
Bancorp Bank N/A
Bank of Albuquerque N/A
Bank of America Deposited 1/01
Bank of Colombia N/A
Bank of Hawaii N/A
Bank of Marin N/A
Bank of New Hampshire N/A
Bank of Oklahoma N/A
Bank of the West N/A
Bank OZK N/A
Bank Plus N/A
Banner Bank N/A
Barclay N/A
Baxter Credit Union N/A
BBT N/A
BBVA N/A
BECU N/A
Bellco Credit Union N/A
Beneficial State Bank N/A
BMO Harris N/A
Boulder Dam Credit Union N/A
Campus USA Credit Union N/A
Canvas Credit Union N/A
Capital City Bank N/A
Capital Credit Union N/A
Capital One N/A
California Coast Credit Union N/A
Card.com N/A
Cash App Deposited 12/30
Central State Credit Union N/A
Charles Schwab N/A
Chartway Federal Credit Union N/A
Chase Deposited 1/01
Chemical Bank N/A
Chime Deposited 12/30
Citadel Federal Credit Union N/A
Citi Bank N/A
Citizens Bank N/A
City National N/A
Clearview Federal Credit Union N/A
Coastal Federal Credit Union N/A
Coast Hills Credit Union N/A
Colony Bank N/A
Comerica N/A
Community America N/A
Community Bank North West N/A
Country Bank N/A
Credit Human Credit Union N/A
Credit Union of Colorado N/A
Credit Union of Georgia N/A
Credit Union of Texas N/A
Credit Union of the Rockies N/A
CSE Federal Credit Union N/A
Current N/A
Dakota Community Bank N/A
Darden Credit Union N/A
DCU Deposited 12/30
Desert Financial Credit Union
... keep reading on reddit ➡

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📅︎ Dec 30 2020
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Hear me out, but Jonathan Banks would be a perfect Dengar for a future Mando/Boba season
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📰︎ r/StarWars
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📅︎ Feb 03
🚨︎ report
Bank of America tower in Charlotte looming in the fog
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👤︎ u/Panadawg
📅︎ Feb 14
🚨︎ report
Buccaneers' Shaq Barrett on next contract: 'I feel like it's time for me to break the bank now' nfl.com/news/buccaneers-s…
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📰︎ r/nfl
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📅︎ Feb 11
🚨︎ report
TIL in 2013 a Canadian bank robber obsessed with Taylor Swift stole a Cessna 172 from a flight school, crossed the US border and flew to Nashville undetected. The plane crashed at Nashville International Airport, killing him instantly. No one noticed the burning wreck for five hours. nationalpost.com/news/can…
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👤︎ u/p33k4y
📅︎ Feb 02
🚨︎ report
Official posters for 'Cherry,' starring Tom Holland and directed by Anthony and Joe Russo - An Army medic with PTSD becomes addicted to opioids and starts robbing banks to pay for the addiction. reddit.com/gallery/knrlof
👍︎ 45k
📰︎ r/movies
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👤︎ u/chanma50
📅︎ Dec 31 2020
🚨︎ report
Got to the bank and my bloody accounts been frozen
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📰︎ r/CasualUK
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📅︎ Feb 13
🚨︎ report
Help! Mom gave her SS# and bank info to "verify her identity" for her military beau

I am honestly beside myself... I will try to keep this as short as possible.

My mom is in her 60's and is very lonely due to isolation (pandemic). She's been chatting with guys on Tinder for about 6 months. She has a "type" - "bad boy" military men. They are always on "assignment" somewhere, in the special forces, and love bomb her. I've told her countless times they are scammers. I don't know a lick about the military, but I can clearly tell they are scams. After awhile they would ask for money - she laughs cause she has none and blocks them...

Recently, she's been talking to one guy in the "special forces" who "lives" on a base in DFW area. Supposedly she cannot call him directly, she needs to call "base" and then he calls her. I've told her it's most likely a scam. Last week she told me he's coming to her city (Houston), but the military will need to verify her identity (why?). I told her DO NOT GIVE OUT ANY PERSONAL INFORMATION.

She just called me and told me he's coming, and that money for his trip will be deposited into her account. RED FLAGS are flying in front of me. Why tf would military personnel not have a bank? I ask her what info did she give them. She told me she gave her social and bank info - like her login details. Her credit dropped because they made a hard inquiry!!!!! How can she not realize by now it's a scam?! I admit, I was livid and screamed at her to freeze her credit and call her bank ASAP. I just can't believe my mom could fall for something like this - even after I was right with the other scammers...

Anyway... I need help on finding resources to protect her. She doesn't have much money (only SSDI). I told her to call her bank and tell them EVERYTHING and to freeze her credit via the 3 reporting agencies. What happens if they opened a card or loan under her name? What else can she do? What else can they access with her social and bank info?

Edit: She was able to close her bank account (thank goodness). I am driving down tomorrow to help her set up a new account with her bank and go to the Social Security office to give them the new bank info and report the scam. I don't know if the scammer charged anything to her debit, but he did get notified her account was closed (and is attempting to call/text her). I told her to call at least one of the credit reporting agencies tonight to freeze her account and request details on the hard inquiry/claim it as fraudulent. She finally realized it is a scam. The really sad part about

... keep reading on reddit ➡

👍︎ 6k
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📅︎ Jan 31
🚨︎ report
The White Dragon Skin actually shares the same pattern with the vases in the CEO office of Bank
👍︎ 12k
📰︎ r/Rainbow6
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📅︎ Feb 13
🚨︎ report
ICC clears way for war crimes probe of Israeli actions | Judges in The Hague said the court could investigate cases in Gaza, the West Bank and East Jerusalem. Israel branded the ruling 'political', while Palestinians said it was a 'victory for truth.' dw.com/en/icc-clears-way-…
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📰︎ r/worldnews
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👤︎ u/IntnsRed
📅︎ Feb 08
🚨︎ report
Israel settlers in the occupied West Bank force a Palestinian family on a picnic to leave because they are Arab. v.redd.it/xu8j5obyqng61
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📅︎ Feb 10
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ULPT Request: Small monthly donations (15) to meet my bank's Monthly Qualification Cycle.

I have a high-interest checking account and I need to make 15 debit card transactions per month. So I'm looking for a website or charity where I can make small monthly re-accruing donations of like ($0.01 or under $1). The problem is most sites deal with fees and such. Does anyone know of any way around this?

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📅︎ Feb 02
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Mihoyo deserves serious praise for their character writing - look how many people are gushing over NPCs, like the Fatui bank guards getting together, or being able to cure Anna etc.

...or how memorable Ying'er is to people despite showing up in a like two quests, or how much people want to save Glory from her awful boyfriend, etc. etc. etc.

I know many people here don't play mobile games in general, but I can tell you, this is NOT usual for mobile games. Most mobage NPCs are background noise or glorified quest bulletin boards. About the only other one I can think of right now that writes NPCs so well is FGO (disclaimer: I of course have not played every mobage out there so don't yell at me if I didn't mention some other game with great NPCs)

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📅︎ Jan 23
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The suspect appears to be 144p, black and white and robbing a bank
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📰︎ r/memes
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📅︎ Jan 22
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Donald Trump’s biggest lender, Deutsche Bank, will reportedly no longer do business with him theglobeandmail.com/busin…
👍︎ 23k
📰︎ r/politics
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📅︎ Jan 12
🚨︎ report
Should I buy this 2007 Dodge Charger R/T 5.7 V8 RWD for $5,588? Has 109k miles. Nothing wrong with it mentioned, however it will be taken to get a second opinion on the condition. I’m 19 and really looking for something to have a little fun in that won’t break the bank (hopefully). reddit.com/gallery/ljquow
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📅︎ Feb 14
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The $GME squeeze will bring down Melvin. The Silver squeeze will bring down the biggest banks in the world. That's why Robinhood barred trading of $SLV the day after they took a billion dollars in loans from JPM and Goldman Sachs. ARE YOU FUCKING KIDDING ME.

You retarted apes are growing up. I remember a year ago this sub was nothing but memes of J-Powell littered with rocketship emojis. Now It's GME posts littered rocketship emojis. We've come so far.

Now listen:

If you think Wall Street is shitting their pants over the GME short squeeze you are 100% right. Jim Bianco lays out a convincing case that SPY was down 2% on Friday because hedge funds were dropping their "safe" stocks to raise capital for collateral against their rising margin debt on GME.

But you also got to know this. At the same moment Robinhood halted purchases of GME, after calls from their hedge fund buddies, they also put on limits on $SLV.

(Here is the list of all limited stocks - they've since added weird stuff like Starbucks, but $SLV was one of the first along with $GME and $AMC). I think that's pretty weird, considering that, unlike these other stocks, $SLV was up only a few percent on Thursday. It's even weirder when you consider that Robinhood had just been bailed out by JPMorgan and Goldman Sachs! These fuckers are two of the worst silver manipulators out there. (Seriously. Link for Goldman. Link for JPM)

These banks have been raking it in on suppressing the price of silver for decades. Look at this historical chart of silver. Does this make any sense? Silver was well over $30 for several years in the fucking 1980s. And now it's $27???

https://preview.redd.it/8rf9ip323je61.png?width=1914&format=png&auto=webp&s=f8bfdbed2e78d08ef1d411241adc6d68141ede47

The fair price of silver, conservatively is CERTAINLY over $50, but it seems that there were some strings attached to JPM and GS's little loan to Robinhood.

I'm balls deep in GME, but am riding this silver train too. Already last week $AG and $SLV were surging despite Robinhood's best efforts. If this thing breaks, both of those tickers will at least double. My personal price target for Silver is $70. The tendies from silver wi

... keep reading on reddit ➡

👍︎ 2k
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👤︎ u/ephyfish
📅︎ Jan 30
🚨︎ report
[Highlight] The bank is open for Tacko Fall streamable.com/k0qjef
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📰︎ r/nba
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👤︎ u/fbreaker
📅︎ Jan 16
🚨︎ report
‘Inconceivable before Brexit’: Banks again plot job moves out of London as pressure mounts fnlondon.com/articles/inc…
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📅︎ Feb 09
🚨︎ report
Great moments in Dublin history: Christ casting out the emos from the Central Bank steps
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📰︎ r/ireland
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👤︎ u/Misodoho
📅︎ Feb 13
🚨︎ report
Third bank cuts ties with Trump after Capitol riot thehill.com/policy/financ…
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📰︎ r/politics
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👤︎ u/lucynyu13
📅︎ Jan 13
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I just noticed these droneholes on Bank. It took only 400 hours v.redd.it/e8vlv1ujcnc61
👍︎ 14k
📰︎ r/Rainbow6
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👤︎ u/Elisey_BTW
📅︎ Jan 21
🚨︎ report
This man built a 25 foot snowman to raise funds for a local food bank.
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👤︎ u/superfleh
📅︎ Feb 15
🚨︎ report
I believe I have found lotto FDs (and other puts) that will actually print. DoorDash is about to collapse, and this is your opportunity to bank.

Disclaimer: It is moronic to buy FDs. That is not the way to consistently build wealth. The very reason FDs pay off such huge returns is because on average their probability of expiring worthless is 99%. If you’re moronic enough to buy FDs with me, only do it with money that you are willing to literally set on fire. Actual fire. There are plenty of safer puts on DASH that will pay obscene returns this year..

TLDR: I believe DoorDash (DASH) is the greatest short opportunity of the year, and what’s more, rather than just having a general feeling, there are specific timetables enabling us to profit bigly. The company even admits themselves that they have peaked as a company.

Analysis:

>“Food delivery with third-party apps like Grubhub and Uber Eats is booming, but no one's making money.” – Business Insider.

DoorDash is wildly overvalued. This is true by any metric, were it in essentially any industry. Add to that its in food delivery, which is a horrific, no margin industry in what has become a commoditized business and offers essentially no differentiation with its competitors. There is near zero differentiation between Uber Eats, Postmates, Caviar, Grubhub, DASH, or any local provider. In Austin we have Favor, for example. And nobody cares which company delivers their food, they only care which one does it cheapest.

If you view stock (as you should) as buying the entire business as an owner, how much would you be willing to pay for an undifferentiated company in a no margin commoditized business that has peaked (see below for more on that)? Because it’s currently selling for an insane $56 billion. Outrageous.

So how can we get a banana for scale to understand what that $56 billion means in terms of valuation?

Well, all of DoorDash’s competitors have either sold at or are trading at, or raised money at, a capitalization of 3x to 6x sales. DASH is trading at an absolutely insane 20+ x sales.

Just six months ago Postmates was acquired for $2.65 billion which put it at 4x sales. At 4x sales, DASH would trade at $32.

DASH used to be the business leader in this industry, but over the past 2-3 years Grubhub has exploded in size to take on nearly the same 33% of market share, and after Uber Eats bought Postmates, it too now has about a third of market share. So you now have three giants of roughly equal size

... keep reading on reddit ➡

👍︎ 434
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👤︎ u/WBuffettJr
📅︎ Feb 10
🚨︎ report
Fuck you and your garbage music Joyner never touch the Bank Account beat again
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📅︎ Feb 05
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As someone who works at a bank this is very true, and one of my favorite quotes in the game.
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📰︎ r/civ
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📅︎ Feb 01
🚨︎ report
Central Banks Want to make their own crypto. They’re the f*cking reason crypto was invented in the first place. To end the tyranny and BD

As the title suggests, I read that central banks want to make their own coin.

It obviously angers me and we should all not only refuse to adopt the coin should they create it, but we should demand they not be allowed to make one.

They’ve been getting by making free money every time they print fiat currency for any nation. Ever since people stop trading shit for other shit and started trading money for things central banks have been ripping everyone off.

It’s funny because at first they acted like crypto was never going to be a thing, then they wanted a piece of the action, and now they want to control it again. I say hell no.

I’m sure somebody’s gonna tell me to calm down, and they’ll be right, but i’m passionate about stuff like this when it comes to putting the power back in the peoples hands

👍︎ 902
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👤︎ u/cscaggs
📅︎ Feb 12
🚨︎ report
AITA for wanting my boyfriends parents to not be linked to his bank account after we get married?

So I (F21) and my bf (20) are getting married in March on our 1 year anniversary.

My mom had gotten a storage unit under his name that she was giving us the money for. She had apparently forgotten to give us the money one month (by a few days) and he ended up having it pulled out of his account automatically. My boyfriends parents had noticed the account withdrawal and ended up going ape shit on my bf about the money. His mom ended up sending me a bunch of really nasty texts while I was at work and when I didn’t respond, she sent my bf up to my job to make me answer.

Once I contacted my mom, she immediately sent us the money and apologized. His mom was going to apologize to me but I never called her to have the conversation due to the anxiety/left over frustration. I just feel like it’s weird that they go through all of his bank info when he’s never had any issue with spending, they also never did it with his other siblings.

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70-year-old Oakland woman seen attacked, robbed by 2 men after returning from bank - ABC7 San Francisco abc7news.com/oakland-gran…
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Chase bank lost my $25k wire transfer and has not got it back for 3 weeks

Hi Reddit, what I have experienced is so absurd that I have to post this.

On Jan. 23rd, I initiated a wire transfer of $25k to my wife from my Chase account to her BofA account. That day is a Saturday so we waited until the following Monday. On Jan. 25th Monday, the money was taken out of my Chase checking account, but it did not show up in my wife's account. We finally decided to call our banks on Jan. 30th Friday, after not receiving the wire transfer after 5 days.

We first called Chase bank, whose representatives (we called many times) claimed that the wire transfer had been completed and the money should be at the recipient bank. We then called BofA, who then claimed that they had never received any wire transfer, and that we should follow up with the sender bank. OK, so we went back to Chase telling them this story, who unsurprisingly insisted that the wire transfer had been completed. One of the Chase representatives brought up that I could start a recall request, but in the disclosure she read that the recall is not guaranteed. That sounds fishy? I asked: "so you're saying there's a chance the money is just lost?" and received affirmative answer. This person simply did not care where the $25k was and where it would end up. Anyhow, I started the recall request on the phone.

The next Monday we decided that we couldn't wait at home and headed to the banks' local branches. We first went to BofA, where a banker helped us do some research. What shocked me was that the banker needed to call the SAME phone number that we had been calling and had to wait for around half an hour before anyone picked up. Before the phone call, the banker assured us confidently that we would find our money, but after she hung up, we were back to square one: the wire department said that they had not seen any money coming in, or on the transit.

Some context here: the BofA banker told us a story that in the past sometimes the name gets messed up, so the money would be stuck on somewhere called the "transit", which is basically a middle ground for wiring transfers. Someone just needs to go and find it.

Ok, so the BofA banker, again, told us to follow up with Chase bank, since the sender bank would have more information and can "trace the money in the terminal".

We then went to the Chase bank.

I guess I should have been used to it by that time, but it was also shocking to see that the Chase banker, sitting in a glass door office, had to dial the phone for customer service nu

... keep reading on reddit ➡

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Retired Bank Robber Starterpack
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Thank you all, my wife was diagnosed with MS recently and my bank account had -$1,400 in it.

Robinhood let me do an instant deposit of $1,000 so i figured what the hell, I have nothing to lose at this point. If they are going to give me an out I'm going to try to take it... Bought the only contract i could afford for this Friday and went to spend some quality time with her. Just sold this morning. https://imgur.com/f6QqH8Z

Edit - DON'T PAPERHANDS THIS LIKE ME. JUST HOLD EVERYTHING. If i would have taken my own advice i would have been at +30k right now. EVERYONE JUST HOLD. My financial position did not allow me to hold on but you all CAN DO IT.

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👤︎ u/heapsp
📅︎ Jan 27
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Married couples should have separate bank accounts

I don’t know if this is actually unpopular, but it feels to me like everyone who’s married gets a joint account and then problems with finances becomes a huge pain-point in the relationship. My husband and I have been together for 10 years, married 5 and we’ve never had issues with finances. We each have our own credit cards, bank accounts and jobs and we’re each responsible for paying half rent/utilities/groceries etc.

We both make our own decisions on what to spend our money on, unless it’s a huge purchase or something both of us would benefit from, and then we talk about it and 99% of the time we agree and continue on.

Anyway, I guess what I’m saying is, don’t feel pressured to put your money in a joint account just because you got married. It isn’t mandatory, but I grew up believing it was, even though it’s 100% optional.

Edit: Hey! Definitely didn’t think this would get much traction; I was literally just posting my random thoughts online. Just to clarify, you should absolutely do what’s best for you! If a joint account is what works for you and your spouse, please don’t ‘not’ do it because of some random person’s opinion on the internet. I grew up very sheltered, believing that the man in the relationship is the bread winner and you have to have a joint account, etc. In the end though, just do what works for you as a couple! While separate accounts works well for me and my husband, it may not be what you want. :)

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Bank Run during the Stock Market Crash of 1929, Colorized
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