Archive for the ‘Wells Fargo’ tag
Don’t open accounts with JPMorgan Chase, Citigroup and Wells Fargo
So even after they were bailed out with all of that tax-payer money they refuse to lend.
While inter-bank lending rates have fallen since Congress approved the $700 billion Troubled Asset Relief Program on Oct. 3, most bank lending to consumers remains tight and interest rates high. The average credit-card rate was 14.33 percent on Dec. 16, according to IndexCreditCards.com in Cleveland, almost unchanged from 14.41 percent in October 2007.
This is absolutely pathetic. Just think of how Washington grilled the auto industry executives but have let the banks have a free lunch. I’m not a fan of the big three automakers either, but seriously the government is going to have to open these banks up. If they don’t start lending then I’d say don’t reward them with your deposit accounts.
