Not Too Big to Stick it to You
August 10, 2009
Not Too Big to Stick it to You
The banks charged 35.8 billion dollars last year in fees for bad checks! Almost 36 billion dollars for what has to be one of the smallest parts of their revenues. Anybody think the banks need more of your money? I don’t and I will continue to scream that the banks have only filthy lucre as their motivation. Now, look; I have nothing against making a profit, but I find this obscene.
During this most difficult of economic times in American history when we laid out 700 billion dollars of taxpayer money because these guys were “too big to fail”; and yet they took in 36 billion just from NSF charges indicates mismanagement of the severest kind.
Note to the PR departments of the banks; you ought to consider halving your NSF charges; consider taking in a measly 18 billion dollars. One more thing; I would bet that given the staggering nature of the size of these fees, there just might be some finagling going on in order to pad that number even higher. Has anyone besides me had the bank charge you 35 bucks for bouncing a check that should not have bounced? Multiply that times 300 million customers and I get a smooth 10.5 billion buck starting place.
Forgive the cynicism folks, but I’m tired of getting hosed whether it be by private enterprise or my own spendthrift government. We have got to get outraged about all of this. There is a moral truth; right and wrong does exist, and this is most decidedly……..WRONG.
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