Author Topic: Interesting Articles...  (Read 1204115 times)

Offline grodnoking

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Nov 2014
  • Posts: 5396
  • Total likes: 465
  • DansDeals.com Hat Tips 14
    • View Profile
Re: Interesting Articles...
« Reply #5355 on: September 28, 2016, 08:54:57 AM »
http://www.washingtonexaminer.com/house-asks-feds-to-stop-mailing-postcards-with-social-security-numbers-on-them/article/2602863
Garbage bill. Everyones social is requested by just about every institution and business that wants any ever so slight information on you. Your school, your cell provider and just about everyone else has your SSN, and is readily available to any minimum wage worker who works in that company. The mailman its the least of your worries.
I'm not who you think I am.

Offline JTZ

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Apr 2016
  • Posts: 1903
  • Total likes: 228
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Interesting Articles...
« Reply #5356 on: September 28, 2016, 10:00:27 AM »
"LESS IS MORE" It is the cumulative effect that kills deals!!! How many times do I have to say this?  >:(

Offline blerbz

  • Dansdeals Silver Elite
  • **
  • Join Date: Jun 2012
  • Posts: 93
  • Total likes: 5
  • DansDeals.com Hat Tips 3
    • View Profile
Re: Interesting Articles...
« Reply #5357 on: September 28, 2016, 10:42:27 AM »
From a court decision which is kind of an 'interesting article':

US v. AMEX, 15-1672, 2016 WL 5349734, NYLJ 1202768610015, at *1 (2d Cir., September 26, 2016)

In contrast to Visa and MasterCard, Amex is a proprietary network that operates a "closed-loop" system. Within this closed loop, Amex acts not only as the middleman network but also as both the issuer and acquirer for the vast majority of transactions involving its cards.26 Therefore, in most cases,27 Amex maintains direct relationships with both its cardholders and merchants by "provid[ing] issuing services to cardholders, acquiring and processing services to merchants, and network services to both sides of the platform in order to facilitate the use and acceptance of its payment cards."28 Special App. 16. The Amex system is sometimes referred to as a "three-party" system because the network (i.e., Amex itself) serves as the only intermediary between the cardholder and merchant.

Within its closed-loop system, Amex directly sets the interchange fee so as to maximize profit.29 Setting the interchange fee also allows Amex to set the accompanying merchant-discount fee and cardholder benefits directly.30 Amex charges a single discount rate for all Amex card products, meaning that regardless of whether a cardholder uses Amex's highest rewards card or its lowest, the merchant still must pay the same fee in order to accept the Amex card.

Unlike Visa and MasterCard, which run "lend-centric" models deriving more than half their revenues from interest charged to cardholders for unpaid balances on the cardholder's charges for a given billing period, Amex runs a "spend-centric" model whose revenues are primarily dependent on merchant-discount fees. This model is critical to Amex's merchant value proposition, which is that merchants who accept Amex gain access to "marquee" cardholders who tend to spend more on both an annual and per-transaction basis than customers using alternative payment methods.31 Amex's model is also critical to its cardholder value proposition, which features a robust rewards program and numerous other benefits, including customer service, fraud protection, and purchase and return protection.

______________________

I'm thinking that Amex's lawyers did a good job convincing the court but that it is no longer true

Offline henche

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: May 2011
  • Posts: 3866
  • Total likes: 420
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Interesting Articles...
« Reply #5358 on: September 28, 2016, 11:37:59 AM »
From a court decision which is kind of an 'interesting article':

US v. AMEX, 15-1672, 2016 WL 5349734, NYLJ 1202768610015, at *1 (2d Cir., September 26, 2016)

In contrast to Visa and MasterCard, Amex is a proprietary network that operates a "closed-loop" system. Within this closed loop, Amex acts not only as the middleman network but also as both the issuer and acquirer for the vast majority of transactions involving its cards.26 Therefore, in most cases,27 Amex maintains direct relationships with both its cardholders and merchants by "provid[ing] issuing services to cardholders, acquiring and processing services to merchants, and network services to both sides of the platform in order to facilitate the use and acceptance of its payment cards."28 Special App. 16. The Amex system is sometimes referred to as a "three-party" system because the network (i.e., Amex itself) serves as the only intermediary between the cardholder and merchant.

Within its closed-loop system, Amex directly sets the interchange fee so as to maximize profit.29 Setting the interchange fee also allows Amex to set the accompanying merchant-discount fee and cardholder benefits directly.30 Amex charges a single discount rate for all Amex card products, meaning that regardless of whether a cardholder uses Amex's highest rewards card or its lowest, the merchant still must pay the same fee in order to accept the Amex card.

Unlike Visa and MasterCard, which run "lend-centric" models deriving more than half their revenues from interest charged to cardholders for unpaid balances on the cardholder's charges for a given billing period, Amex runs a "spend-centric" model whose revenues are primarily dependent on merchant-discount fees. This model is critical to Amex's merchant value proposition, which is that merchants who accept Amex gain access to "marquee" cardholders who tend to spend more on both an annual and per-transaction basis than customers using alternative payment methods.31 Amex's model is also critical to its cardholder value proposition, which features a robust rewards program and numerous other benefits, including customer service, fraud protection, and purchase and return protection.

______________________

I'm thinking that Amex's lawyers did a good job convincing the court but that it is no longer true

which part

Offline Something Fishy

  • Global Moderator
  • Dansdeals Lifetime Presidential Platinum Elite
  • **********
  • Join Date: Jan 2011
  • Posts: 6855
  • Total likes: 1689
  • DansDeals.com Hat Tips 44
    • View Profile
    • Kosher Horizons
  • Location: Not Brooklyn
Check out my site for epic kosher adventures: Kosher Horizons

Offline sky121

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: May 2011
  • Posts: 11427
  • Total likes: 139
  • DansDeals.com Hat Tips 12
    • View Profile
"Not all who wander are lost"

Offline nolahy

  • DansDeals Copper Elite
  • *
  • Join Date: May 2015
  • Posts: 13
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 57595
  • Total likes: 5267
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA Global Services, AA Lifetime Plat, DL Dirt, SPG Plat, Hyatt Diamond, Fairmont Lifetime Plat, Hilton Diamond, Priority Club Plat, Avis Chairman, National EE, Hertz PC
Re: Interesting Articles...
« Reply #5362 on: September 29, 2016, 08:37:46 PM »
Hits just keep coming for Wells. I wonder if they'll survive?
http://money.cnn.com/2016/09/29/news/wells-fargo-servicemembers-cars/index.html
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline hvaces42

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Nov 2013
  • Posts: 5009
  • Total likes: 847
  • DansDeals.com Hat Tips 14
    • View Profile
Re: Interesting Articles...
« Reply #5363 on: September 29, 2016, 08:57:34 PM »
Hits just keep coming for Wells. I wonder if they'll survive?
http://money.cnn.com/2016/09/29/news/wells-fargo-servicemembers-cars/index.html
They had the cleanest noses in the Foreclosure arena so you know it had to come out elsewhere. Just like in the foreclosure crisis no one paid with criminal charges they will get away with this too.
Fair warning - Any PMs sent in response to forum posts are fair game for ridicule in public.

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 57595
  • Total likes: 5267
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA Global Services, AA Lifetime Plat, DL Dirt, SPG Plat, Hyatt Diamond, Fairmont Lifetime Plat, Hilton Diamond, Priority Club Plat, Avis Chairman, National EE, Hertz PC
Re: Interesting Articles...
« Reply #5364 on: September 29, 2016, 08:58:53 PM »
They had the cleanest noses in the Foreclosure arena so you know it had to come out elsewhere. Just like in the foreclosure crisis no one paid with criminal charges they will get away with this too.
The difference is the public and Congress didn't understand CDOs.
They understand opening up fake accounts to gain more fees and they're looking for blood.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Ergel

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Jun 2010
  • Posts: 12081
  • Total likes: 397
  • DansDeals.com Hat Tips 3
    • View Profile
Re: Interesting Articles...
« Reply #5365 on: September 29, 2016, 09:17:49 PM »
Hits just keep coming for Wells. I wonder if they'll survive?
http://money.cnn.com/2016/09/29/news/wells-fargo-servicemembers-cars/index.html
Yikes. But do you honestly think they won't survive? I think they are still a long way from that
Life isn't about checking the boxes. Nobody cares.

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 57595
  • Total likes: 5267
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA Global Services, AA Lifetime Plat, DL Dirt, SPG Plat, Hyatt Diamond, Fairmont Lifetime Plat, Hilton Diamond, Priority Club Plat, Avis Chairman, National EE, Hertz PC
Re: Interesting Articles...
« Reply #5366 on: September 29, 2016, 09:19:43 PM »
Yikes. But do you honestly think they won't survive? I think they are still a long way from that
Not from this, but Congress is out for blood.
Wells is an easy target right now.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 57595
  • Total likes: 5267
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA Global Services, AA Lifetime Plat, DL Dirt, SPG Plat, Hyatt Diamond, Fairmont Lifetime Plat, Hilton Diamond, Priority Club Plat, Avis Chairman, National EE, Hertz PC
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline hvaces42

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Nov 2013
  • Posts: 5009
  • Total likes: 847
  • DansDeals.com Hat Tips 14
    • View Profile
Re: Interesting Articles...
« Reply #5368 on: September 29, 2016, 09:34:45 PM »
The difference is the public and Congress didn't understand CDOs.
They understand opening up fake accounts to gain more fees and they're looking for blood.
Oh they understood them well. The banks to this day continue to lie and cheat in the foreclosure process. They are allowed to get away with blatant lies every single day. I'm intimately familiar having fought Chase early on in their claim that they bought all WAMU's loans. If you read the purchase agreement they expressly did not purchase bad WAMU loans yet they continue to foreclose on them to this day, particularly no that the market has turned around. The FDIC was complicit in WAMU and other banks being taken over during the financial crisis. Thats why no one went to jail. 
Fair warning - Any PMs sent in response to forum posts are fair game for ridicule in public.

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 57595
  • Total likes: 5267
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA Global Services, AA Lifetime Plat, DL Dirt, SPG Plat, Hyatt Diamond, Fairmont Lifetime Plat, Hilton Diamond, Priority Club Plat, Avis Chairman, National EE, Hertz PC
Re: Interesting Articles...
« Reply #5369 on: September 29, 2016, 09:44:31 PM »
Oh they understood them well. The banks to this day continue to lie and cheat in the foreclosure process. They are allowed to get away with blatant lies every single day. I'm intimately familiar having fought Chase early on in their claim that they bought all WAMU's loans. If you read the purchase agreement they expressly did not purchase bad WAMU loans yet they continue to foreclose on them to this day, particularly no that the market has turned around. The FDIC was complicit in WAMU and other banks being taken over during the financial crisis. Thats why no one went to jail. 
The public didn't understand what was going on, so there was no mass call for action.

In this case thousands of lowly Wells employees were fired for management greed and people were charged fees for accounts they never opened. That's something that the public demands action for.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.