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Tag Archives: banks

Unable to Open a Checking Account? Thank the Government

Posted on August 4, 2013 by Tony Lima

Are you unable to open a checking account? You may thank the government (as well as the media, particularly the New York Times). The two have waged a war against overdraft fees for the last decade. There have been many new regulations and actions designed to increase the cost and reduce the revenue banks receive from overdraft fees. Any economist can tell you that when you put a price ceiling in place, a shortage will develop. In this case, the shortage is expressed as fewer bank accounts being opened, particularly for people likely to re-bounce (a term I just invented). Continue Reading →

Posted in Current issues, Economic policy | Tagged bank of america, banks, checking account, checks, citibank, featured, jpmorgan, new york times, overdraft fee, overdraft fees, overdrafts, second chance checking accounts, wells fargo

Update on the Martian Banking System

Posted on July 22, 2012 by Tony Lima

My thought was undoubtedly the same as yours: since we’re talking about the entire planet, what is the meaning of “offshore?” Continue Reading →

Posted in Economist "humor" | Tagged banking system, banks, james henry, Mars, martian, Martian banks, offshore bank, tax havens

Our Favorite Economist Tony Lima

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Economist Thoughts

TARIFF, n. A scale of taxes on imports, designed to protect the domestic producer against the greed of his customers. — Ambrose Bierce

“Everybody knows that once something is declared a right, the laws of supply and demand are automatically repealed.” – Ben Shapiro, podcast, September 4, 2018

Why I will not use government data from now on

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  • RT @julie_kelly2: BREAKING NEWS: Just when you think DOJ can't get any dirtier-- New motion just filed by defense in Proud Boys tria… https://t.co/f2jZ1v7a8R, 5 mins ago
  • RT @SheepleAnalytic: "The government wants banks to stop doing business with some people...." Imagine the world where 90% of all deposi… https://t.co/DnzFgoksYc, 8 mins ago
  • RT @bloodless_coup: WTF IS WRONG WITH THE 1 in 4??????? https://t.co/NErAwPyLuz, 3 hours ago
  • RT @Olivia_Beavers: NEW: The Air Force responds to Chairs Rogers and Comer on its 11 incidents of improper record releases — And there… https://t.co/2Vy5vXeRY4, 3 hours ago
  • RT @julie_kelly2: Let's see some legislation to also shutter the DC US Attorney's office and the FBI Washington field office. https://t.co/5eD6sMdXAS, 3 hours ago

Websites I Like and Use

  • Board of Governors of the Federal Reserve System
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GonzoEcon History

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  • Silicon Valley Bank March 17 Update
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  • Silicon Valley Bank and the Regulators March 21, 2023
    One question that has come up is whether this was a failure of regulation.  Stanford Prof. John Cochrane is a proponent of this idea. I don't find his arguments persuasive. Continue Reading →
    Tony Lima
  • Silicon Valley Bank March 17 Update March 17, 2023
    First, Silicon Valley Bank was a Federal Reserve member bank. Second, almost no one came back to the actual offices. Continue Reading →
    Tony Lima
  • Bring Back Dilbert! March 17, 2023
    Vote to get Dilbert back into the San Jose Mercury-News. With the permission of Scott Adams I am running the write-in campaign. Continue Reading →
    Tony Lima
  • Silicon Valley Bank March 15, 2023
    On March 10, Silicon Valley Bank was closed by the FDIC.  The main cause was an incompetent management team that wasn't interested in banking. Continue Reading →
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