<VV> Dealing with banks ~ (was Corvair, but got sidetracked ?)

[chaz at properproper.com]

Rodney :

Banks seem to rely on customers to complain if something's wrong.  They
don't check much, like names or dates, just that the money's there, and
they don't seem to care shose money it is.
I guess they figure if someone lost money, they'll call (to
over-simplify it.)

A while back, my brother sent the electricity check to the gas company,
and vice versa, to "buy some time." 

Each cashed the others check, and neither the bank nor the utilites
noticed the problem, - they just paid the wrong amounts, but didn't
care.

I've cashed checks, as old as 10 years without a problem, but I didn't
pass them by a teller - I used the ATM where they "rush" things a bit
more.  A teller would have wasted a lot of time calling managers, etc.

I never found out if the checks actually cleared the bank of origin, but
the amount were never debited from my account (one was just a year and a
half ago, so I think I'm safe.)
My account does not have enough in it to NOT notice $800 coming out !

I'm not giving financial advice, I'm just recounting my expereiences,

To Arbitrator Ken:
------------------
I can't say why you weren't reversed, without knowing the facts (maybe
they didn't ask/appeal?)
Ceteris parabis, I think it would be reversible if the person deposited
a check he or she received and deposited.

The person who writes the check is more culpable than the person who
takes it on good faith that it is valid.
At least IMHO, and I have to wonder what case law or statute was used to
support the decision ?

Re: the "prison" story :

I just like to tell that story because I worked for him, and I could not
balance his books.
I was just his database developer, and the data wouldn't work, so I told
him.
He terminated me (for digging too deep ?)

I took him to civil court, and since he was an investment counselor, I
sued for "Restitution" which required that he open his books to the
court.

The rest is SEC history ($190M Ponzi, pre-Bernard Madoff), although I
have to wait another 123 years to get my 40 grand (plus interest)!

Who says it's not a "court of justice" ?

PS: This is great conversation, but maybe we could take it off VV,
before Dennis yells at us ?

Charlie



> -------- Original Message --------
> Subject: RE: <VV> Dealing with banks is not for the timid !
> From: "Rodney Spooner" <rodneyspooner at corvairgarage.com>
> Date: Sat, March 26, 2011 10:50 pm
> To: <chaz at properproper.com>, <k-wildman at onu.edu>
> Cc: <VirtualVairs at corvair.org>, <HallGrenn at aol.com>
> 
> 
> Depending on the bank, I should think that a Federal law would be broken
> somewhere. I have experienced that banks will pay out on post dated checks
> that are tendered prematurely. (I have the shorts to prove it.)
> 
> Vairy truly yours,
> Rodney Spooner
> Riverside, CA 92501
> 
> # # #
> 
> chaz at properproper.com wrote: " If my bank says it's cleared via their
> "policy," they are just as bound
> by that policy as I am."
> 
> "I'm not an attorney but I play one in court"