Use access key #2 to skip to page content.

KDakotaFund (24.77)

Jonathan Hoenig - Ally Bank's Straight Talk Is Crooked

Recs

16

March 17, 2011 – Comments (2) | RELATED TICKERS: GM

You can't miss the print ads for Ally Bank posted all over Chicago streets, almost laughable deceptions aimed at covering up the outfit's failed history and ongoing government ownership.

"We don't take money. We take care of it," boasts one ad, more than a little ironic considering the bank is 73.8% owned by the Federal Government . They don't take money? Maybe not from customers, but from taxpayers they've taken billions.

For a company that received numerous bailouts exceeding $17 billion dollars in total, it takes chutzpah to run ads promising to "treat your money like it's actually yours." Actually, given the fact we are all involuntary investors in Ally, they treat our money like it's theirs. That's an injustice only the government, not any profit-seeking businessman, can commit.

Full article

2 Comments – Post Your Own

#1) On March 17, 2011 at 5:20 PM, silverminer (37.43) wrote:

exellent article! thanks for posting!

As my wife will freely confirm, I've been known to curse at their commercials when they come on the tube. For whatever reason, I find the one where the woman speaks to her dog about how much she loves her bank the toughest one to swallow.

Report this comment
#2) On March 17, 2011 at 5:27 PM, kdakota630 (32.79) wrote:

A few of them are kind of funny, but yeah, I hate that one, too.

Report this comment

Featured Broker Partners


Advertisement