[mandown]

That 10 page document can be emailed and printed. You can discuss via a phone call or email what some of the different aspects of it are (actually, we did exactly that for our mortgage. While we got it through WF, most of the document transfers were via email, including questions and answers about different parts of the truth-in-lending document. WF actually allows you to view the entire mortgage document ahead of time so that you don't have to take the time to do it when you're physically signing all of the documents at the closing.

And, where did the people replying to email and phone calls reside, would you guess? US or not? Would you then also assume that your bacon-loving wise-guy ways are representative of the entire customer base for the banking industry? Or is it possible that some folks don't rely on the web fo everything?

 

[Inclag]

but banking requires a domestic labor force, thus they are providing jobs.

Actually no.

I think you'd be surprised at how much is getting outsourced to other countries. I know a friend that recently spent 2 weeks in India training people to take over current positions which are held in the US.

 

[mattmatt86]

 

[dante]

And, where did the people replying to email and phone calls reside, would you guess? US or not? Would you then also assume that your bacon-loving wise-guy ways are representative of the entire customer base for the banking industry? Or is it possible that some folks don't rely on the web fo everything?

Here in WI, but I only met the mortgage guy twice, and once was at the closing. The first time I met him we showed up with a stack of paperwork, they ran our credit scores and decided they didn't need to see any of the 2" stack of papers we brought with us, approved us for what we were willing to spend and that was that. Everything else was email, which was good since it gave us a chance to look through the paperwork on our own time instead of having him standing over our shoulder. Honestly if the guy had resided in Bangladesh but had a firm grasp of the English language and the State Statues regarding a real estate transaction I wouldn't really have cared (I cared more about the strength of the bank than the mortgage lender).

Come to think of it, our internet car loan was FAR easier than negotiating a loan with the car dealership...

Internet:
1. Fill out information online
2. Get offers, choose the best one (4.2%)
3. They mailed us a check for the full amount, and all we had to do was sign it and hand it over in order for it to be valid (and for us to agree to the loan)

In person:
1. Check credit scores ahead of time (both over 700)
2. Inquire about the advertised 5% rate, told that we didn't qualify since one of our credit scores was 698. Told that there was *absolutely nothing* that they could do about it.
3. Go back in after internet loan request, hand over $19,000 check.
4. Suddenly they *are* able to deal...........
5. Accept 4.19% loan rate through dealership after haggling.....

No, we're not the common type of banking customer, but I'd bet that there are more and more people like me every year, and fewer of the people like my parents who have to walk into a bank just to reorder checks. I'm not saying it'll happen overnight, maybe not for another 10+ years, but we're getting to the point where internet banking will become more and more common, and brick and mortar will become less and less. Already Chase has a program where you can take a photograph of the front and back of your check and send it to them, and you don't even have to take your check to the bank to cash it. They don't even ask for the original.

<shrug> Dunno, but that's just my feeling. I'm kind of surprised that internet banking hasn't come further (since it was already almost as advanced in 2004 as it is today), but I guess time will tell.

 

[daisycutter]

http://gothamist.com/2011/10/15/live_video_stream_occupy_wall_stree_1.php#photo-1

 

[mandown]

blah blah blah . . .
<shrug> Dunno, but that's just my feeling. I'm kind of surprised that internet banking hasn't come further (since it was already almost as advanced in 2004 as it is today), but I guess time will tell.

It is interesting to see how people feel on the issue. Clearly some good thought going on here, despite the opinion differences. I can see the automation trend down the road, which begs the question: what jobs will be around in 10 more years?

It seems like "repair and maintain" jobs along with "judgement" jobs are hardest to outsource. You can't outsource plumbing or auto repair. It also seems hard to push for lawyers being outsourced, since we deal with US laws and courts tend to like having people in trials and hearings. Teaching would seem to be a hard thing to export, but that bls.gov page I linked to shows pretty low numbers, relatively, in education. I would assume that trade schools and career specific/focused majors (like accounting) would be the route to go in school these days.

I think we have a few more years of old-school thinking bosses still running operations. My personal experience is that my direct-report boss appreciates technology, but doesn't think about the production of our department in terms of finding tech shortcuts. My recent return to work has given me a refreshed view of what we do and how we do it. After a year off, and having handicaps that slow me down, I look for shortcuts everywhere to keep my production up. Since July, I have already streamlined some glaring inefficiencies in our methods, and I have a few more plans already in progress. Each time I tell my boss about my plans for revisions, he is supportive, but neither he nor my department peer-level staff think proactively about the issues I see. Since those guys are several years away from retirement, I see their old-school mentality being around for a while longer.

 

[ohio]

Again, no one on wallstreet is approving a loan or mortgage. NO ONE. We're not talking about outsourcing your local banker for whom face-to-face is all he or she has as a competitive advantage and in which case I'll admit there are benefits.

We're talking about a collection of guys that only interact at a B2B level. If they do an in-person locally, it's with someone several degrees removed from the base asset, just like them. If it's not local, they generally work by phone/video conference. Maybe a twice a year plane trip to the important relationships. There is almost no functional reason for them to be in New York. They are there because that is where their labor market is and where it wants to be.

My argument isn't that outsourcing should happen, it's that decentralization of the power brokers (whether to Utah or Bangalore) is a good thing for the health of the financial markets.

 

[stevew]

 

[Pesqueeb]

Oy, now I gotta go listen to Pink Floyd.

 

[Hello Kitty]

Perhaps Bloomberg should put some speakers out near zuccotti park and put some S L A Y E R on to run off the hippies, statist and miscreants.

It worked for SouthPark episode "Die Hippie Die" that first aired six years ago, it is hilarious and so representative of the air-headed kooks being used as useful idiots in the OWS movement.

http://www.southparkstudios.com/full-episodes/s09e02-die-hippie-die

SouthPark is being invaded by a mob of slogan-spewing, pot-smoking, drum-circle "hippies" and know-it-all college students who's eyes have been "opened" by their professors who are all spewing hatred against the corporate establishment and demands for its demise.

"They are not people; they are hippies" -- Cartman

 

[jonKranked]

I already suggested that chief. Way to be late to the party.


and most of us watch south park. you don't need to cite it for us to get the references.



Yeesh. freakin' amateurs.

 

[dante]

Wow, I've never, ever heard of that reference before, seen that episode, or even knew what South Park was. Thanks for the fully-explained joke, I would never have understood your lame attempt at humor otherwise...


edit: sniped by JK while trying to find the post in the previous 9 pages.

 

[dante]

Yeesh. freakin' amateurs.

See, there's this thing that people do when they're so fed up with stupid people that they smack their face with the palm of their hands. Then, what people started doing was finding *other* instances where it *looked* like people were smacking their face with their palms, but in reality they were doing something completely different. So you show the picture, and you put "facepalm" somewhere in the heading, and it tells people that you're witty and clever by calling someone stupid with just a picture. And some words.

 

[jonKranked]

Wow, I've never, ever heard of that reference before, seen that episode, or even knew what South Park was. Thanks for the fully-explained joke, I would never have understood your lame attempt at humor otherwise...


edit: sniped by JK while trying to find the post in the previous 9 pages.

here's a guitar and some joints. now shut up.

 

[Hello Kitty]

Occupy wall street&#8217;s 99% meet the 53%

 

[syadasti]

meet the 53%

Turns out the 53% don't even live in the US. Nice try.

 

[Fool]

I've been there. They make a ****ty martini and serve it in a lipstick-stained glass.

 

[jonKranked]

an interesting perspective...

There is going to be a fusillade of attempts from many different corners to force these demonstrations into the liberal-conservative blue-red narrative.

This will be an effort to transform OWS from a populist and wholly non-partisan protest against bailouts, theft, insider trading, self-dealing, regulatory capture and the market-perverting effect of the Too-Big-To-Fail banks into something a little more familiar and less threatening, i.e. a captive "liberal" uprising that the right will use to whip up support and the Democrats will try to turn into electoral energy for 2012.

What nobody is comfortable with is a movement in which virtually the entire spectrum of middle class and poor Americans is on the same page, railing against incestuous political and financial corruption on Wall Street and in Washington. The reality is that Occupy Wall Street and the millions of middle Americans who make up the Tea Party are natural allies and should be on the same page about most of the key issues, and that's a story our media won't want to or know how to handle.

Take, for instance, the matter of the Too-Big-To-Fail banks, which people like me and Barry Ritholz have focused on as something that could be a key issue for OWS. These gigantic institutions have put millions of ordinary people out of their homes thanks to a massive fraud scheme for which they were not punished, owing to their enormous influence with government and their capture of the regulators.

This is an issue for the traditional "left" because it's a classic instance of overweening corporate power -- but it's an issue for the traditional "right" because these same institutions are also the biggest welfare bums of all time, de facto wards of the state who sucked trillions of dollars of public treasure from the pockets of patriotic taxpayers from coast to coast.

Both traditional constituencies want these companies off the public teat and back swimming on their own in the cruel seas of the free market, where they will inevitably be drowned in their corruption and greed, if they don't reform immediately. This is a major implicit complaint of the OWS protests and it should absolutely strike a nerve with Tea Partiers, many of whom were talking about some of the same things when they burst onto the scene a few years ago.

The banks know this. They know they have no "natural" constituency among voters, which is why they spend such fantastic amounts of energy courting the mainstream press and such huge sums lobbying politicians on both sides of the aisle.

http://www.rollingstone.com/politics/blogs/taibblog/why-occupy-wall-street-is-bigger-than-left-vs-right-20111017

 

[Pesqueeb]

an interesting perspective...http://www.rollingstone.com/politics/blogs/taibblog/why-occupy-wall-street-is-bigger-than-left-vs-right-20111017

Needs more BOLD if you expect me to think any of that is FACT.

 

[Hello Kitty]

Anarchists for big government!

When these #occupywallstreet useful idiots get some vision, objectives and clear concise message then perhaps they will not look like the fools they are.

Laugh and make fun of the Tea Party all you want they got their candidates elected last November and are quietly working now to get more elected November 6, 2012.

Where is the #occupywallstreet candidates to take on whatever they are for or against?

 

[Fool]

Perhaps Bloomberg should put some speakers out near zuccotti park and put some S L A Y E R on to run off the hippies, statist and miscreants.

Your plan may backfire.

 

[jimmydean]

I had a great job with a great company with awesome benefits. When the company decided to secure a second round of funding before going public, the board decided it was time to hire a CEO. 3 months after the CEO was hired, the company decided to cut everybodies salary by 30% to stretch our cash until the round was secured. 6 months after the CEO was hired, the company was out of cash, didn't have a round of funding secured and everyone was laid off and the company closed it's doors.

6 months later, I met with some former employees at a get together and found out some interesting info about the CEO we once had.

Not only was the 30% pay reduction HIS idea, but HE was the only one who didn't take it.
Not only did he run the company broke and into the ground, but the board PAID him to leave afterwards.

Is he a member of the 1%? Not likely, but his actions aren't much different than many other CEO's in the US today that are. He didn't do the job he was hired for, then was paid to leave after he did all the damage he could. One of the issues I have with business today is the salary gap and treatment differences from CEO to lowest worker (there is a cool graph posted in this thread for reference).

I have worked for what I have, maybe to a fault (I took the 30% pay cut in support of the "big picture"). Does that mean I am one of the 99%, or the 53%?

 

[johnbryanpeters]

I had a great job with a great company with awesome benefits. When the company decided to secure a second round of funding before going public, the board decided it was time to hire a CEO. 3 months after the CEO was hired, the company decided to cut everybodies salary by 30% to stretch our cash until the round was secured. 6 months after the CEO was hired, the company was out of cash, didn't have a round of funding secured and everyone was laid off and the company closed it's doors.

6 months later, I met with some former employees at a get together and found out some interesting info about the CEO we once had.

Not only was the 30% pay reduction HIS idea, but HE was the only one who didn't take it.
Not only did he run the company broke and into the ground, but the board PAID him to leave afterwards.

Is he a member of the 1%? Not likely, but his actions aren't much different than many other CEO's in the US today that are. He didn't do the job he was hired for, then was paid to leave after he did all the damage he could. One of the issues I have with business today is the salary gap and treatment differences from CEO to lowest worker (there is a cool graph posted in this thread for reference).

I have worked for what I have, maybe to a fault (I took the 30% pay cut in support of the "big picture"). Does that mean I am one of the 99%, or the 53%?

It means you got fvcked with the rest of us and that the CEO and the board should do some time.

 

[syadasti]

http://www.truthdig.com/report/item/a_movement_too_big_to_fail_20111017/

The truth of America is understood only when you listen to voices in our impoverished rural enclaves, prisons and the urban slums, when you hear the words of our unemployed, those who have lost their homes or cannot pay their medical bills, our elderly and our children, especially the quarter of the nation’s children who depend on food stamps to eat, and all who are marginalized. There is more reality expressed about the American experience by the debt-burdened young men and women protesting in the parks than by all the chatter of the well-paid pundits and experts that pollutes the airwaves.

What kind of nation is it that spends far more to kill enemy combatants and Afghan and Iraqi civilians than it does to help its own citizens who live below the poverty line? What kind of nation is it that permits corporations to hold sick children hostage while their parents frantically bankrupt themselves to save their sons and daughters? What kind of nation is it that tosses its mentally ill onto urban heating grates? What kind of nation is it that abandons its unemployed while it loots its treasury on behalf of speculators? What kind of nation is it that ignores due process to torture and assassinate its own citizens? What kind of nation is it that refuses to halt the destruction of the ecosystem by the fossil fuel industry, dooming our children and our children’s children?

 

[Hello Kitty]

Your plan may backfire.

I think not...Liberal weenie poseur

S L A Y E R

No comparison what so ever?.

Kerry King Thrash Metal Guitar God

Getcha' Pull

Black Tooth Grin!

Remember?Pantera was from TEXAS bitches!!

 

[TheMontashu]

http://www.youtube.com/watch?feature=player_embedded&v=WmEHcOc0Sys#!

This guy is my new hero


The cop telling the dude it's "a little crazy" is epic

 

[stevew]

 

[syadasti]

 

[Hello Kitty]

The problem with the occupy movement is the reality-blind, statist jerks who love government intervention cant explain what they stand for.

The truth is they are nothing more than a mob of feeble minded idiots who've fallen hook, line, and sinker for the leftist class warfare mantra.

 

[Pesqueeb]

I think not...Liberal weenie poseur

S L A Y E R

No comparison what so ever&#8230;.

Kerry King Thrash Metal Guitar God

Getcha' Pull

Black Tooth Grin!

Remember&#8230;Pantera was from TEXAS bitches!!

What exactly does of these youtubes prove other than you have sh1tty taste in music?

 

[dante]

The problem with the occupy movement Tea Party is the reality-blind, statist jerks who love government intervention cant explain what they stand for.

The truth is they are nothing more than a mob of feeble minded idiots who've fallen hook, line, and sinker for the leftrightsist class warfare mantra.

ftfy.

 

[stevew]

What exactly does of these youtubes prove other than you have sh1tty taste in music?

he doesn't doesn't know it...but slayer hates him.

 

[Hello Kitty]

I hope these self-righteous spoiled brats keep this hyperbole up till election day it's quite funny to laugh at and exposes their ignornace.

Obama-Endorsed Occupy Denver Protesters: ?Hang and Shoot? Bush Administration

Transcript from Daily Caller:

The young University of Colorado student may appear too young to have much life experience, but yessir ? he?s mad as hell and he isn?t going to take it anymore. He sure looks comfortable in that designer jacket, though. (Ladies: Is that Burberry or a knock-off?)

?There?s a lot of stuff that needs to change,? our boy added, ?and if it doesn?t, violent revolution will come.?

How to change things for the better? Apparently it just takes a box of bullets and some rope.

?If you get the thirteen families that own the world, including George Bush and his administration, get them in front of the White House and hang them and shoot them, because they deserve that.?

 

[clarkenstein]

i guarantee i can dig up youtube videos of teaparty members saying stuff just as dumb. i'm not going to, because i don't care to, but i am sure i can find it. so in other words, what you just posted can be shot down just the same since there are idiots on both sides of this thing that they are on the same side of. in fact, i would venture a guess that there are idiots pretty much anywhere.

 

[syadasti]

i guarantee i can dig up youtube videos of teaparty members saying stuff just as dumb. i'm not going to, because i don't care to, but i am sure i can find it. so in other words, what you just posted can be shot down just the same since there are idiots on both sides of this thing that they are on the same side of. in fact, i would venture a guess that there are idiots pretty much anywhere.

No need, he ignored that earlier in the thread:

http://www.ridemonkey.com/forums/showthread.php?245658-Occupy-Wall-Street&p=3705344&viewfull=1#post3705344

 

[Hello Kitty]

i guarantee i can dig up youtube videos of teaparty members saying stuff just as dumb.

I&#8217;m sure you can however I&#8217;ll be willing to bet you can&#8217;t find any evidence of Tea Party folks being arrested, defecating on police cars and American flags, squatting on private property and refusing to leave, impeding traffic and access to private residences like you have with these #occupywallstreet folks. If these occupy folks were serious they would be camped outside the white house not wall street.

 

[jonKranked]

I’m sure you can however I’ll be willing to bet you can’t find any evidence of Tea Party folks being arrested, defecating on police cars and American flags, squatting on private property and refusing to leave, impeding traffic and access to private residences like you have with these #occupywallstreet folks. If these occupy folks were serious they would be camped outside the white house not wall street.

but evidence has already been provided of tea partiers claiming the president's secret agenda was to enslave the whites

 

[syadasti]

I&#8217;m sure you can however I&#8217;ll be willing to bet you can&#8217;t find any evidence of Tea Party folks being arrested, defecating on police cars and American flags, squatting on private property and refusing to leave, impeding traffic and access to private residences like you have with these #occupywallstreet folks. If these occupy folks were serious they would be camped outside the white house not wall street.

RTFT

http://www.ridemonkey.com/forums/showthread.php?245658-Occupy-Wall-Street&p=3702870&viewfull=1#post3702870

 

[Hello Kitty]

but evidence has already been provided of tea partiers claiming the president's secret agenda was to enslave the whites

Prove it.

 

[Hello Kitty]

RTFT

http://www.ridemonkey.com/forums/showthread.php?245658-Occupy-Wall-Street&p=3702870&viewfull=1#post3702870

Could you please point out ANYWHERE in that article where it specifically states &#8220;Tea-Party&#8221; member if not STFU.