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Corrupt Companies & Corrupt Employees Are Using Trump Admin's Net Neutrality Repeal To Steal From Customers
DECEMBER 19, 2018
$BK, $BRKA, $BRKB, $CRM, $TROW, $T, $VZ, $CMCSA, $AMZN
In China, the news reported recently that every citizen is graded by the government. Those who receive a poor grade, according to reports have their internet slowed, making them easy targets for scams and corrupt companies to steal from them. When disparate poverty results from corruption, when so simply conversely intelligence could have been used to acheive prosperity then whomever sought to weaken communities won.
In America financial institutions regularly, appear to develop strategies to take more from their customers, just as corrupt muncipalities do. They force their customers' hands, then say "look what you did." Just like the old bullying meme: "Stop hitting yourself."
According to customer reviews, Bank of New York can take over 10 minutes to make a stock trade. Mutual Fund companies that use Bank of New York tell their customers there is nothing they can do, because Bank of New York runs the show.
Bank of New York is a historic company, with a strong brand. So, it is possible, that like any business they must put up with their own employees playing games, while customers have to drain their investments in brand name mutual funds that use Bank of New York brokerage, because according to reviews customers can not access their investments using Bank of New York's brokerage -- it won't load, positions that were supposed to split, don't split, the "buy" and "sell" buttons don't load, so the customer can not "buy" or "sell" investments. Customer reviews also say Bank of New York duplicates money transfers to banks, randomly, all the time. Customers state they have to call up the companies that use Bank of New York's services, where the employees act like they have no idea why customers are calling in, likely because they do not.
If a customer clicks "buy" or "sell" on a portfolio page, regularly the portfolio pages reload, without the "buy" and "sell" buttons. Causing the customers to have to close the page, reopen the page, wait for dozens of scripts from Google, Facebook, BScorecardresearch, basically any company that offers Bank of New York money for their customers' customer's data -- it can take 10 minutes, even with fast internet according to some customer reviews.
Whereas strong businesses and good businesses set standards of excellence and work for prosperity. There are some that are pleased with: "Letting Bank of New York deal with those people (customers.)"
Various reviews of the brokerage express that funds will not be available after settlement dates, and employees explain that a certain percentage of the time Bank of New York just doesn't move people's funds.
The mutual fund companies that use Bank of New York apparently feel that the service is good enough. However, the question remains whether Bank of New York treats their larger customers the same way as their smaller customers.
Anyone who has work to try to get done on the stock market, could be lucky to be able to make more than a few stock trades in a trading day using Bank of New York's brokerage. As the mutual fund companies that use Bank of New York, most likely have very little idea of what all of the scripts that their brokerage is running are doing. Things, perhaps, like trying to benefit while customers lose, and are unable to make stock trades in real time.
Investors would think, that a strong, quality business would work to constantly make their product or service more functional, and faster. Instead of slower and less functional. Unless there is a benefit to working to make their service slower and less functional.
Bank of New York or any company that wants to can take the Trump Administration's repeal of net neutrality and use it as an excuse to swindle their customers. The same way any government that implements the reported system used in China, can simply say: "Not the right religion, not the right color, not rich enough, so you get a low score: Sorry, but you know what that means, the bank / the county can just take your money from you now. A grade system blended to perfection with a ratio of fiction and opinion, a sprinkle of greed, and if you don't believe: Low score, we rob you. It's on special letterhead, as if to say "so you have to believe us," where discrimination and inequality can be used as a cloak to cause others to lose while some gain, instead of working to achieve stronger wealth for customers, that can build a stronger business for the long-term.
Disclaimer: This article is not a recommendation to buy or sell. Please consult a qualified financial adviser to determine proper allocations, if any to investments.