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  • 1
  • Bob Snot
    3:21pm - Fri Dec 09th, 2011
    Evidently one of the better banks
    If your bank told you they're paying .65% interest on your savings account you're at one of the better banks, most aren't paying anywhere near that amount. When I was with Bank of America, my preferred status account only paid .25%. Just checking their website now, they're advertising .05%, anyone with a saving account paying any of those amounts would be better keeping their money under their mattress at home, and it's probably just as safe there.

    Isn't it funny how if we open a savings or interest paying checking account at their establishment to be able to have money easily accessible, all the while letting them USE OUR MONEY, they only have to pay us those miniscule return rates? Yet, if we borrow from them, they get to charge us at least 6% and more than likely upwards, late credit card rates can reach up to 30%. Just think, the government used to set the rates that banks had to pay their account holders so that what is happening now didn't happen, what happened? Good old deregulation, the banks didn't like paying decent, reasonable rates for using our money and they had the rules changed in their favor. Making it all the better for them to get everyone locked into the wild west casino world of the stock market. No wonder they're making money hand over fist. The sad thing is most people don't look at the situation as it is, they think the banks are doing them a favor for paying them even crappy interest returns, even though they're using the account holders money to make money. People, they owe YOU money, for you letting them use your money!

    The reason so many people are using credit, and it isn't smart unless it's paid off in full when due, is because of the sad shape of wages anymore in our working class world. It's scary and sad, the number of people who are getting by by using their credit cards only. Then again, considering all the greed mongering and corruption in our society, I guess they're just doing as they see, as in, "When in Rome, do as the Romans do." They see all the banking executives and Wall Streeters destroying everything with their get rich anyway you can mentalities and decide what the heck, why not join the crowd. Why not run up as much "Other peoples money" as you can and then walk away? It's happening everywhere with no end in sight.

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