I got my monthly bank statement today. I see that withdrawing from an ATM other than one of my banks now costs me $2.00 – a rise of 50 cents. No doubt I got a piece of paper telling me just that.
Of course, banks are in the business of making money. I really hate the fact that they make it out of me. But all I have is a $5,000 car loan (that’s all that’s left on it) Imagine you have a mortgage. Lots of you do. This big bank bastard that makes billions of dollars a year, hoists the interest rate up again – “cost of wholesale funding” is the cause apparently. Whatever the hell that means. Wayne Swann, fearless treasurer, is reported as having said that the banks will have to justify their increase to working families. I’m sorry, how does that work exactly? And what if these working families don’t like the explanation, will they be able to jump banks at minimal fees? Didn’t think so.
This again is nothing but a system to ensure that banks continue to make massive profits from those that are least able to afford it.
The whole system is wrong – I wonder what it would take to change it.
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