Post your two paragraphs and citations from the article you read here. The first paragraph is a summary of your banking article and the second paragraph is your reflection about that article. Remember to include you MLA citation at the bottom of your two paragraphs. You do not need to comment on anybody else’s post unless you wish too.
Bank
A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses. Due to their critical status within the financial system and the economy generally, banks are highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords.
I picked this article because it seems like it explains banking pretty well. It tell that a bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. It also tells that banks are highly regulated in most countries. And it says they are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords.
Safe deposit box
The article that I read is about what to keep on your box if you have a safe deposit box. Like the article said not to put a will in it or any legal documents because something could happen to it. It should be locked up in a fire proof safe in your house or in your attorney’s office. The reason why not to put a will in their because if someone dies you may not be able to get it for weeks then you might have to have a court paper to open it, it’s a mess. Pretty much safe deposit boxes aren’t that good to hold legal documents.
Reading about this reminds me of my mom, she has all her papers in there or in one to. To me it’s a good way not to lose your values like maybe some Diamonds, money, passports, and a gun maybe. When I get older I’ll probably have one. My thoughts about this article that I read is a little worried for people that have legal documents in there and wills and stuff.
“Sound Money Tips.” Make Money, Save Money –. Web. 17 Apr. 2012. <http://seekingalpha.com/article/28238-tip-on-what-not-to-store-in-a-safe-deposit-box>.
Bank Robbery
Bill Wipprecht is Security Director of Wells Fargo Bank NA, in San Francisco, and a member of the ABA Security & Risk Management Committee. He gives presentations nationwide to bankers and law enforcement on Security matters and will be doing a workshop on robbery at the BAI Conference in April. This is the fourth and final installment of his series on Robbery. When hiring armed personnel, the rule is simple and steadfast: pay more and hire the best. Your first choice should be to contract with the local police department for a uniformed, off-duty officer. If the city has a policy against this, try to get the city to reverse the policy. Cops aren’t overpaid to begin with and the robber jeopardizes the lives of all citizens. What you are really paying for then is additional police protection through prevention. For the people in the platform they are at less risk than the barrier …and tear gas/dye packs do not prevent robberies but do assist in bandit apprehension. Hidden in currency, electronic tracking devices provide a miniature transmitter that allows police to track and locate robbery suspects while they still have the money.
The best part of this technology is that apprehensions are made away from the banking office. The newest transmitter is no larger than a computer chip and goes virtually unnoticed by the robber. Unfortunately, this technology is only available in a few cities and is sometimes pricey. But, in cities where they are being used, arrests are made on a regular basis. If you can’t get help from the police department then it may be necessary to contract with a local security firm who provides armed specialists. Make sure their specialists are retired or active off-duty police officers. Never hire run-of-the-mill uniformed contract guards to carry weapons. You’re asking for trouble. “Bandit barriers” is the common name for protective enclosures made of bullet resistant glass or plastic protecting the teller area from counter to ceiling. Steel is used under the counter. (Although bandit barriers strongly discourage would-be robbers from committing crimes, recent history shows the prevention aspect is better termed “deflection” as it seems the robber typically strikes at the nearest banking office without a barrier and robs it. Bank robbers think that they will never get caught but they don’t realize that they have cameras and even hiding your face won’t help because people could recognize you by the way you talk, feel and you are if you know what I mean!
Bankruptcy is a major issue in the banking world today, for it is something that has to be taken seriously. Bankruptcy is a way to start over financially, with no debt or other financial stresses. Although some people may think they can just file for bankruptcy and wipe out their expenses then go ahead and spend more money are clearly unaware of how it works. Bankruptcy isn’t something you jump to, it’s meant as a kind of last resort option. There are two types of bankruptcy, Chapter 7 and Chapter 13. Chapter 7 just wipes everything clean while Chapter 13 gives the person the opportunity to pay back debt but with supervision from the banks. If you can pay back 25% of your debt, you cannot file for bankruptcy, so you have to be financially very bad to get bankruptcy. It is recommended to explore every possible option before deciding you want to start over. Bankruptcy is a last resort that can benefit in many ways, but can be hard to start over.
I think that bankruptcy is a very serious matter that needs to be handled with care. Judging by the way it works I can see how it can easily be manipulated. I can also see how some people can just see it as a way to wipe out debts with no consequences, but you can lose your house and other things if you file for bankruptcy because no matter what you still have a house payment unless your house is completely paid off. Declaring bankruptcy is a way to help people in dire situations of financial problems, not for people who just don’t want to pay off bills.
“WOODRIDGE.” Free Articles in Bankruptcy. Web. 16 Apr. 2012. <http://bankruptcy.bestmanagementarticles.com/>.
The first thing you have to do is apply for a bank loan. This is going to take a lot of information like, what kind of bank loan you need and how much, if you able to pay back and how much you pay back each month. You also are going to tell the bank how much you need, what for, and you going to pay back. The process of getting a loan will take a while and can be frustrating. A bank loan is the best way to go because with other loans raised interest rates can happen, extra fees, and money you HAVE to pay but should not. With a bank loan they will tell you the rules and regulations that must not be broken. There are many good reasons why to do a bank loan and not others. You are going to have low flexible payments. Also if you get a bank loan and pay it off it puts a good mark on your credit score and will give you a better chance to get a bank loan sooner.
I personally think that a bank loan is the best way to go, because of several reasons. With the bank loan you can make sure you don’t have to pay more money then you have. Also people with bad credit can get better credit if they pay on time which is really cool. If I started a business I would get a bank loan because I know the do’s and don’ts and make sure and if I do a good job of paying it back and need another loan I can get it sooner and faster. Even though you have do lot of information and it sometimes it might be frustrating you should do a bank loan.
Cooper, James. “How To Get A Bank Loan.” SG & Singapore Map. Web. 17 Apr. 2012. <http://www.streetdirectory.com/travel_guide/145333/banking/how_to_get_a_bank_loan.html>.
The article gave me a thought on what life would be like without a bank. If we didn’t have a bank there wouldn’t be no one to loan us money. Without that little bit of money most business wouldn’t succeed and go bankrupt. Also if we didn’t have a bank there wouldn’t be a safe and secure place to put your money. We would have to keep our money at home but then that would encourage more people to steal and rob houses.
Banks work by accepting deposits and by borrowing funds or borrowing money in markets. By having the bank depositing and making loans helps channel funds for borrowers. While having a bank our lives are easier to live than it would be if we didn’t have a bank.
“The Federal Reserve Bank of San Francisco: Economic Research, Educational Resources, Community Development, Consumerand Banking Information.” The Federal Reserve Bank of San Francisco: Economic Research, Educational Resources, Community Development, Consumerand Banking Information. Web. 16 Apr. 2012. <http://www.frbsf.org/education/activities/drecon/answerxml.cfm?selectedurl=/2001/0107.html>
A man in Miami Beach, Florida went into a Wells Fargo bank with a gun and demanded money. This happened at 7:45 a.m. and he confronted two employees. He fired multiple shots, but luckily, no one was hit. He got the money and left. Surveillance footage of them man has just been released.
It takes a lot of guts to rob a bank. I could never do it. This man had a lot of guts, but no brains. He must have had dire circumstances where he needed a lot of money quick. He could have also been dared by friends. He could have been threatened to do it or else. Most of the time though, people need money quick and that is probably why this man took the chance and got away with it… for now.
CITATION: “Shots Fired during Miami Beach Bank Robbery.” Sun Sentinel. Sun Sentinel, 21 Sept. 2011. Web. 17 Apr. 2012. <http://articles.sun-sentinel.com/2011-09-21/news/fl-miami-beach-bank-robbery-20110921_1_bank-robbery-surveillance-images-wells-fargo-branch>.
Ty Taylor
ATM Fees on the Rise,
In the article ATM fees Heading Higher by Robin Sidle talks about how once again the Automated Teller Machines fees are rising. The banks are trying to recover billions of dollars lost in the recession and this is another way to nickel and dime some of that money back. Normally the fee costs between $2-$3 but now Chase Bank in particular is considering spiking their fees up to $4-$5 per transaction. +Normally banks don’t charge customers for their services but now in these times they are forced to get almost every penny. The Article also goes on to show how if you use an ATM not a part of your bank then you might be hit with a double-digit fee.
I know that banks need to make a profit and I respect that. However I think instead of a fee that has to do with a set amount is ridiculous. Instead of some bank saying you want your money well now you owe us $5. I think they should have a set rate that is the same for withdrawals within the bank and also outside of it. There should be no difference, and some sort of system where ok if you want to make a withdrawal we will take a certain percent of that withdrawal. I do not think they get to choose what fees go where.
Sidle, Robin. “ATM Fees Heading Higher.” Editorial. The Wall Street Journal [New York] 16 Mar. 2011. The Wall Street Joirnal Online. Web. 17 Apr. 2012
In the article “The Economic Function of a Bank” to show people the functions of a bank it asks people to imagine life without banking. Just think if we didn’t have banks where would we store our money and save it? Also where would we be able to get loans on cars and houses? Plus what risks would you have from barrowing money without banks? This shows us how important banks are and also how much they can help us. In the article it also explains to us that banks operate by borrowing funds-usually by accepting deposits or by borrowing in the money markets. Banks borrow from individuals, businesses, financial institutions, etc. with surplus funds. Also banks make these loans to businesses, other financial institutions, individuals, etc. that need the funds for investments or other purposes. The most common uses of these funds are to make real estate and commercial and industrial loans.
This says to me that banks a very important to use and can do a lot of good and really help people. Also it shows the functions of banks really well by explaining how banks help with loans, saving money, storing money, etc. and it really gave me a better idea on how banks work.
Article Citation: “The Federal Reserve Bank of San Francisco: Economic Research, Educational Resources, Community Development, Consumerand Banking Information.” The Federal Reserve Bank of San Francisco: Economic Research, Educational Resources, Community Development, Consumerand Banking Information. Web. 17 Apr. 2012. <http://www.frbsf.org/education/activities/drecon/answerxml.cfm?selectedurl=/2001/0107.html>.
A savings account is one of the most common types or bank accounts. Savings accounts keep your money in a secure place while it builds up a slight amount of interest each month. Depending on the bank of the type of savings account, some of them require a minimum balance of twenty five dollars, but some don’t require any minimum balance at all. With your money in a savings account, you will be less likely to spend it, and it’s insured. If you were to keep all of your dough in your house, and someone robbed you or your house burned down, your money would be lost forever. Banks and credit unions make sure that that doesn’t happen.
The article I read had very legit material, it was easy for me to apprehend and it was very useful in informing me about savings accounts. In my opinion, having a savings account is a good idea; it’s like getting paid for saving your money. Also, it keeps your money in a safe place and protects it from hazardous things that could destroy or steal your money.
“How Do Savings Accounts Work?” HowStuffWorks. Web. 17 Apr. 2012. <http://money.howstuffworks.com/personal-finance/budgeting/savings-accounts.htm>.
India is cutting down interest rates for investors and the bank interest is 8 percent. It is slowly declining because India says “they want their country to have a good economy.” but by cutting down interest rates. They’re going to have more and more people lose money because of what they’re doing. Money is going to be lost and there bank is not going to be around for long. Because the financial impact that went down back in 2008, many banks went into bankruptcy and many people lost their jobs. Especially when the job market collapsed also in 2008. Central bank also says if they want to keep cutting the interest rate the bank will have to suffer the consequences and not make as much money as they did before, because of the people that put their money in the bank and then the people pulling their money out.
After all I don’t think this is right, they should have thought about this risky move. Dealing with the interest rates, that’s what some people depend on. Read the article if you want the full info
“India Cuts Interest Rate for First Time in 3 Years | Asia | English.” Voice of America ®. Voice of America. Web. 17 Apr. 2012. <http://www.voanews.com/english/news/asia/India-Cuts-Interest-Rate-for-First-Time-in-Three-Years-147716345.html>.
The top fifteen most impenetrable vaults are very save and most of them can withstand atomic bombs. These vaults were meant to keep billions of dollars in gold, musical instruments, diamond, and more. These vaults were built to stand up against robbers and never get robbed. The very thought of these places getting robbed would make you giggle after ready this article. Fort Knox is 1 of the most secure with its solid granite walls, armed guards, and a 22 ton vault that takes 10 people to open. For people who want to pull off a heist in this bank would take a lot of power and a lot of strategy.
After reading this article you understand how important it is for the owners to keep their clients valuables safe. The stuff that they put into these banks is unreal, Doppler radars, magnetic fields, and even motion sensors. Even some of the banks back in 1900’s had the right idea and had 40 ton vault doors that would be almost impossible to break into. I myself am quite glad that they take these precautions because many governments, people, and nations are reliant on having their wealth safe.
“15 Most Impenetrable Bank Vaults.” Investing In Gold; Gold Investing; About Investing In Gold. Web. 17 Apr. 2012. <http://www.cmi-gold-silver.com/blog/15-impenetrable-bank-vaults/comment-page-1/>.
Article: Commercial Loans Failing at Rapid Pace
In the article “commercial loans failing at a rapid pace” states that at the rate in the year 2005 the losses for 2009 commercial loans could have exceeded over 30 billion dollars. This means that all of the homes shopping centers and apartment complexes would all go under water and the financers would go bankrupt. And by that time 57 commercial lenders have already went bankrupt. It also says that the commercial real estate market represents 13% of the United States GDP. The authors, Lingling Wei and Maurice Tamman have projected what the 2009 outlook for commercial banks would be and now 3 years past we realized how they were right.
I agree with this article for many reasons including all their facts were corrects and the authors were success full in predicting the fall out of some of the major commercial lenders such as Goldman sac’s and Freddie mac. Also they use good statistics and facts that really make more people interested in what they have to say and to get people to think wow this really is happening. This was a good article to gather information and to go back and see what all caused the economic downturn.
CITATION:
Wei, Lingling, and Maurice Tamman. “Commercial Loans Failing at Rapid Pace.” http://Www.wallstreetjournal.com. Wall Street Journal, 2005. Web. <http://online.wsj.com/article/SB124804759792663783.html>.
The UK Bank is the world best bank. They get over 1 Million transactions a day. They are the center of the world’s banking industry. The top 8 British banks are the top of the overall 30 in the world. This bank holds over 21% of the world’s transactions. Banks like this don’t normally get up to date with the technology. This bank is also barrowing a lot of money and is starting to worry the governor.
If I were to get a bank I wouldn’t get the UK bank because if it is a large bank and holds over 2% of the world’s transactions then it is going to be hard to get money from them when you need it. The also has been barrowing a lot of money and I would like to know the bank is able to provide service. They are overall a good bank I just wouldn’t use them.
“UK Bank.” Bank Reviews. Web. 17 Apr. 2012. http://www.bank.org.uk/uk-bank/
The article titled “Online Banking Tips” on CNN Money is all about the benefits and the negatives of online banking. Online banking has developed more and more security according to the article and now online banks “go beyond bill payment and balance updates to let you check your credit card accounts, look at both your banking and brokerage accounts, make trades, and get free stock quotes.” But there still are risks to it including “phishing” sites that are meant to look like a legitimate site that you know and trust but are actually another site that wants to steal your information. Although the article says that if you do most of your banking online you might want to consider and internet bank because they “provide higher yields on accounts and lower rates on loans than traditional banks due to the reduced cost of their operations.” But then again, internet banks don’t usually have their own ATMs so you will be charged fees for using them (but you may “be offered some reimbursement for these fees by your bank.”) If you decide to use an internet bank though, “be aware of the occasional Internet bank whose accounts are not insured by the FDIC,” says the article “Online Banking Tips” on CNN Money.
Overall, my impression of the article “Online Banking Tips” on CNN Money was that it was very informative for online bankers. I think that if you ever want to be banking online than you need to consult this article beforehand so that you know what bank you want to go with. If you’ve never heard of online banking before, then this article also in introduces you to the concept to see I you want it. In addition, if you know what online banking is but you’re undecided about it then this article gives you the pros and cons about it to help you decide if it’s right for you. Plus, “Online Banking Tips” tells you about “phishing” sights so that you avoid them and pick a secure and safe bank that is FDIC insured. Overall, this is a great article that has all the tips you’ll need to start online banking (if you want to, that is).
Reference:
“Online Banking Tips.” CNNMoney. Cable News Network, 28 Nov. 2011. Web. 17 Apr. 2012. <http://money.cnn.com/magazines/moneymag/money101/lesson3/index5.htm>.
In the past three years internet banking has increased a ton. Everyone is able to do not just people that are very good with computers. Internet banking has had more people go to it than ever before. It makes it easier for people to look at their bank account info because more and more people are getting computers each day. Another thing is people are feeling safer to pass credit card info through the computer. Banking online is starting to become more convent and cheaper. This could mean just not having to spend money on gas to get to the bank.
In my opinion more and more people are trying internet banking. It is easier thin having to drive to that bank and have to pay for parking and wait in line. More people are getting electronic devices that have internet. Also more people are able to find Wi-Fi thin they are able to find a bank. When people are in person they are more likely to not want to give credit card info because it is easier for people to steal their information thin it is online. Because people are trying it and liking it they are telling others and that is making more people try it.
“Internet Bank.” Bank Reviews. Web. 17 Apr. 2012. <http://www.bank.org.uk/internet-bank/>.
This article was about the Federal Reserve and how it manages inflation, sets the monetary policy, supervises the banking system, maintains the stability of the financial system, and then explains how that all affects you. The Federal Reserve (FR) controls inflation by managing credit. The FR uses expansionary monetary policy when it lowers interest rates, expanding credit and liquidity, which makes the economy grow faster and creates jobs. It supervises the banking system by storing currency and processes checks. This all affects you because the FR is able to raise and lower your home value.
This article was very helpful because it explained what the Federal Reserve is, and what it does. The article also uses very small words so that it is easy to understand. After reading this article, I can explain the what the Federal Reserve is, what it does, and how it affects me personally.
Works Cited:
“The Federal Reserve System and Its Function.” About.com US Economy. Kimberly Amadeo, 14 Jan. 2012. Web. 16 Apr. 2012.
Obama is announcing that there will be help for the 3.5 million people who have good credit that are “underwater” finance historically low rates. The president is avoiding the Republicans about this housing financial issue. Obama pitched $5-billion to $10-billion plan to help at least a key segment of struggling homeowners. So there should be some hope for the homeowners with great credit and are struggling with paying their finances.
I can go forward with this as a therapist and ask myself how this makes me feel… This article makes me feel like our president is finally taking action for his country, even though his term is almost over, and I’m satisfied to see that Obama is now taking a step forward and helping his country turn for the better.
My article that I looked up was on safe deposit boxes. This article was very informative and talked about a variety of things. Among them being what to store, what not to store, how safe it is, and how to prevent the unlikely event of a robber getting into your safe deposit box. When I was reading over the two paragraphs about what to and not to put in your safe deposit box it went over many different things. It talked about how it would not be a good idea to put things in there that you would need in an emergency, rather, put things like family records and jewelry, mostly anything that would cause you to say, “If I lose this… I would be in big trouble”. Some people don’t think that safe deposit boxes are really safe; however, in this article it discusses that all of these deposit boxes are manufactured to the point that they are resistant to fire, flood, heat, earthquakes, hurricanes, explosions, or other disasters that could occur. One more piece that the article went over was the unlikely case of a robbery. These boxes that hold valuables are held in concrete or steel vaults that are equipped with heat sensors, video cameras, motion sensors, etc. All in all, it is very unlikely that your items will be taken from you if they are in the safe deposit box. These are just some things among the many that my article went over.
I believe that this article was very good. I do agree with what the author said. I am also able to relate to it. My family has a safe deposit box, and we keep very valuable things in it. I really enjoyed reading this article and agree with it.
“Safe Deposit Box / Safety Deposit Boxes.” . Foreignborn.com, Inc, n.d. Web. 17 Apr 2012.
The article I found was regarding safe deposit boxes and how the Department of Homeland Security cant put restrictions on what customers can remove from them. This article talks about how a customer can put anything they want into their personal safe deposit box. The main things people put in are important documents like, wills, deeds to a house, and birth certificates. It also explained how the whole system works. A customer goes to the bank and can rent a box, the bank then does a background check and all the normal procedure to anything relating a bank or anything like that. Then the person gets a one of a kind key, and the bank makes one lock that fits that key and the bank gets a key for another lock. To open the box the bank and costumer have to insert the keys and the bank unlocks first, then the customer. People said that the DHS can put restrictions on what you can take out of your personal safe deposit box in case of a national disaster. But this is false because the person is alone when anything enters or exits the box. So this old claim is false and safe deposit boxes are as safe as ever.
I agree with this article 100%. There is no way that some government official can tell you what you can and can’t take out of your safe deposit box. Anything legal can go in one of those and the owner can legally take anything out whenever you want. The reason this was all started is because the DHS didn’t want people to take out weapons, cash or gold, or anything with substantial material value in the event of a national disaster. And i disagree with the claim of how the DHS puts restricions on what goes in and comes out of those boxes.
“Snopes.com: Safe Deposit Box Restrictions.” Snopes.com: Urban Legends Reference Pages. Web. 17 Apr. 2012. <http://www.snopes.com/politics/business/safedeposit.asp>.
This article about precautions when storing your money in a bank was very useful and informative. The most common problem when using a safe is flooding, and since the safe’s contents are not protected by FDIC insurance, it’s important to keep your belongings safe. Try to get a safe deposit box higher off the ground. For extra protection for documents, store them in Ziploc bags or Tupperware. Keep multiple copies of important documents in various places. If there are items you might need in emergencies, like passports, don’t keep them in a safe. Give a trustworthy person access to your safe in case of an emergency. Taking a picture of the contents of your safe is helpful when making claims. Finally, don’t store cash in a safe; by doing that you’re taking it out of circulation.
I think this article was very informative and while it seems like some of these tips are over the top, I guess it’s better to be safe than sorry when you’re dealing with valuable belongings. I fully agree with keeping multiple copies of documents in different places. By doing that, however, I don’t see the point in storing them in Tupperware or plastic bags. If you have copies it would take up less room in the safe to store them without the “added protection.” Also, I don’t know if I’d ever give somebody else access to a safe. Taking pictures of the inside of the safe seems fairly reasonable if you’re worried about something happening to it, but I don’t think it’s necessary. I wouldn’t consider cash as valuable as jewels or gold, and I think it would be better to place cash in a checking or savings account rather than a safe. Overall, I thought the article was useful, but not all steps were essential to storing money in a safe deposit box.
http://www.tiphero.com/tips_2041_15-things-you-should-know-about-safe-deposit-boxes.html
Interest is money someone pays another person for use of their money. Banks pay interest to their customers for putting their money in that particular bank. The banks use your money to give loans to other customers and investments. In return for having your money in that bank, they pay you a certain percentage of money called interest. This promotes customers to keep their money with the bank. Interest is one of the banks promotions. The APY is the amount of money an account earns in one year. The higher the APY, the more interest you will be getting. This is determined by how much money you put into that bank. Customers will keep putting money into that bank and will be getting more interest. It’s a win win situation.
I think interest is a very smart thing banks do. It promotes customers to keep their money in that bank, and helps the customers out. The more people who keep their money in the bank, the more money the bank makes. The customers also make money from the interest. The customer has a safe place for their money and earns more money, and the bank makes money at the same time.
SOURCE: “What Is Interest and Why Do Banks Pay It?” E-wisdom. Web. 17 Apr. 2012.
Summary
This article which was named “Tip on What Not To Store in a Safe Deposit Box”, was a great guide to what not to put into a safe deposit box. According to Michael Hymes, certain items like original wills, trust instruments and powers of attorney should not be put in safe deposit boxes. He reasons that putting these important original documents in a safe deposit box can cause future conflicts with other people that need to access them. You may have to pay great amounts of money in court fees just for permission to access the documents. Hymes instead suggest s that important documents are kept in a private safe at your house. This way, another person close to you can access the documents in case of an emergency.
Reflection
I know what this guy (Michael Hymes), is talking about from experience. I had a friend whose grandpa had just died. He always kept his will in a safe deposit box. When it came time for the family to access this extremely important document, they were unable to do so because the safe deposit box was under the name of the grandpa only. A special court session was held just to clear up that the family could have access to the will. I have learned that you should not use safe deposit boxes for important documents because the restrictions on them can make accessing them nearly impossible.
Citation: “Sound Money Tips.” Make Money, Save Money –. Web. 18 Apr. 2012. <http://seekingalpha.com/article/28238-tip-on-what-not-to-store-in-a-safe-deposit-box>.
The article “Locking in Peace of Mind” by Vickie Elmer, is an informational article about locking in your property loan rates. It is a good thing to do this now because property loan rates are at an all-time low at 3.95 but they are estimated to be 4.25 to 4.5 in six months. Also when you get a lock in on your propery loan you should get a copy of the agreement so you can understand what you are doing. When you get your lock the longer the lock the more expensive the lock will be. But sometimes you can get a free lock but it doesn’t last that long mostly around 30 days. It is very important to know the day when your lock terminates so that your loan can go through before in ends which normally takes 15 to 20 days.
I like this article because it gives the reader a good way to save some money when you’re in a certain spot while also giving good information about the banking process. It’s nice that it talks about interest rates and also another service the bank offers which would be in this case locking in your property loan rates. I also like that it informs you about this opportunity at an opportune time when the countries property loan rates are so low. Another important feature of this article is that it comes from a credible source, the New York Times. Without this credibility it is hard to decide whether to rely on this article or not. I approve this article because it informs the reader on a great opportunity while teaching about property loan interest rates and the other things banks can offer.
Elmer, Vickie. “Locking in Peace of Mind.” Newyorktimes, 5 Apr. 2012. Web. 15 Apr. 2012.
The article I read was about a bank robbery in Fayetteville, Arkansas. However, there was an interesting twist in the story. The 73 year old women who robbed the bank claimed to have been forced to rob the bank by a thief. She and her husband had been held hostage at her residence in Washington County, and she had been instructed to go to the bank and remove money. Before the lady could get away, the police caught the women. So the criminal didn’t get any money. When the police investigated their home, the husband was tied to a chair, with no injuries. The couple’s 2011 Silver Ford F-150 was stolen from the residence. Police believe the suspect may have used it to get away. The police are looking for a white male as a suspect.
This story reminds me of a scene in a movie. I think that this story is real, because when the police arrived to the old women’s house, her husband was tied up. The story seems to match up. Also, I find it hard to believe that a 73 year old women would tie her husband up, and go rob a bank. This is a very interesting story, and I haven’t heard of a story anything like it. It’s sad that a criminal would force an innocent elderly couple to rob a bank for him. Since he never harmed the couple, it tells me that he wasn’t a ruthless guy. I’m just glad that the couple wasn’t harmed, the criminal didn’t get what he wanted, and I hope the police catch the man who did this.
Giving money to a bank can be very risk. Sure, banks pay you interest for keeping your money but what you probably don’t know is that by giving your money to the bank you give the bank ownership to your money. They have the power to do whatever they want with your money once you put it into your bank account. Even giving it to other people if they choose! It seems like a good idea to invest in a bank, it really is if you have a trustworthy bank. Be careful who you give your money to.
Some people may question what a bank does to make money. Well some things banks do to make money are to use your money to make loans with interest and invest with your money. So you might ask “Why would you give keep your money with someone who is giving it to other people?” People keep their money in banks for a couple reasons. One is that it’s a lot safer to keep your money in a bank, then to keep it under your mattress. Another reason is that a bank pays you interest to keep money in their bank. Also banks will provide services, like direct deposits, that will pay bills automatically so you don’t have to go to each business and pay them directly. My parents use this method to pay a lot of their bills because it’s easier and it saves time. A bank keeps their customers that ways so they can keep making money, off of your money.
Dudley, Alysa. “How Banking Works.” Yahoo! Contributor Network. Yahoo, 20 May 2009. Web. 20 Apr. 2012. <http://voices.yahoo.com/how-banking-works-3329850.html?cat=3>.
I read the article “How to Choose the Right Bank for Your Small Business” written by Christine Lagorio. It basically stated tips on how to choose a bank that will be most supportive and reliable for your small business. For example, you should start by considering what you will need the bank for. Some banks will work alongside of your personal needs to make your business in great shape. Another example could be evaluating the size of the bank that you need. Chances are borrowing money for loans will be beneficial if it comes from a small bank. Final thoughts on the bank should be good ones. Banks that show stability alongside your business are more likely to be the right ones.
I found that the article was accurate on most of its information. I think it was bias in a way towards large banks, but what they say could be entirely true. On the other hand, the article’s intentions were all beneficial and I’m sure any advice taken from this by someone with a small business had good results. By making connections with this bank you could develop a relationship that will be effective in you and your partnership. Reliability is something that comes from some banks and through some not so much. It is important to find the one that will stand alongside of you and your business at all times and I think this article reflects it very well.
BANK LOAN PARAGRAPH
My article is on Obama’s new plan to cut mortgages by switching to a loan that is under 4%. In order to be insured you must be FHA-insured. The idea is to help those homeowners that are deep underwater in debt. The program is called “streamline refi” which should lower the monthly cost for homeowners.
http://articles.latimes.com/keyword/loans
I think that if this would work many a homeowner would be pulled out of debt that could be ruining their lives. This could stimulate our economy and give it a much needed boost. The benefit that this could have would be huge to the middle class population giving them practically a new start on life. Hopefully this works with little or no negative side effects.
Banks is and doses a lot of things. A bank is a finical institution and a finical intermediary. The bank accepts deposits and also lends money to people and businesses. Almost all banks run and operate on a fractional and reserve banking system. These banks have to follow minimum capital requirements, also known as Basel accords.
I think that this article explained a lot about banking but could have said a little bit more on what else a bank dose for the people. They did although do well on explaining the way most banks run and operate. I think the article should have explained so more on what each thing means and what they do for the bank, or how they affect the bank.
“Bank.” Wikipedia. Wikimedia Foundation, 30 Apr. 2012. Web. 30 Apr. 2012. <http://en.wikipedia.org/wiki/Bank>.