Reuters: Wall Street tumbles as banks, tech weigh
Stocks slid further on Monday as concerns about the health of banking system diminished appetite for riskier assets and as billionaire investor George Soros said the banking system was "basically insolvent".
3 comments:
The BIG banks are like black holes in space. Anyone that gets to close to them gets sucked into their none reality zone and their mind and their integrity disappears. Remember all that blather in the 2000 Pres. debates about a lock box? The joke was on us wasn't it. The stupids voted for a whole admin. made up of bank robbers.
I got a BoA credit card last year with one year interest free, and then fixed 7.5% interest. I figured, fine I'll pay off what remains of my credit card debt and then let it go. So I get a letter today saying that the interest rate is now 14%. Mind you now, I haven't used the card for anything except to pay off debt and I have paid off way beyond the minimum payments and I have an almost perfect credit rating.
So there's fine print. Turns out they will keep it at 7.5% if I refuse the interest rate adjustment. The only condition is now if I use the card once, I am hit with even greater interest rates. The solution is simple I know, its pay the thing off completely. Its just who wants to deplete savings at this point in time. So I am going to keep the thing in a lock box.
I knew this was going to happen because it happened to me about 15 years ago. They get you in on a low rate and then they simply double the rate whenever they want.
I'm just hoping I never have to use one ever again. But you never know.
I only use a debit card and a AMEX card. I use no revolving credit at all.
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