Jonathan Hoenig - Ally Bank's Straight Talk Is Crooked
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.