The Bank of New York Mellon, now that’s a bank that really doesn’t want to stay in business. They’re charging fee’s now for your cash. Now I’m never one that rips a business for making a profit, but there’s a difference between a profit, and profiteering. This is the epitome of greed.

Bank of New York Mellon Corp. on Thursday took the extraordinary step of telling large clients it will charge them to hold cash.

The unusual move means some U.S. depositors will have to pay to keep big chunks of money in a bank, marking a stark new phase of the long-running global financial crisis.

The shift is also emblematic of the strains plaguing the U.S. economy. Fearful corporations and investors have been socking away cash in their bank accounts rather than put it into even the safest investments.

The giant bank, which specializes in handling funds for financial institutions and corporations, will begin assessing a fee next week on customers that have been flooding the bank with dollars, Bank of New York told clients in a note reviewed by The Wall Street Journal.

I wonder how many customers they will lose? I sure as hell wouldn’t keep an account there, nor would I open one. Charging money to hold cash? Gee, and here I thought holding cash was what the invention of banks was all about.

The reason why I’m bringing this up is simple. It’s going to spread throughout the entire banking system, and it will expand to every bank account. That’s how things work, that’s been our history. If you doubt it, talk to me again in a few years when I can say, “I told you so.”