Chase has figured out a new way to extract money from people in economic distress.
What Chase did was allow people to transfer balances from other credit cards to Chase Cards. They offered a fixed rate. But since people are not paying them off fast enough to suit Chase, they're just going to tack on extra fees in order to fuck over the people who are already in trouble.
Well, they have to come up with some cash flow to justify those huge-ass bonuses they pay to people. This is unseemly.
Speaking of banks, did anyone else see the print edition of the NY Times yesterday? There was a full-page lamentation by Wells Fargo Bank of how unfair it was for everyone to condemn them for taking TARP money and then funding lavish getaways for their peeps. I would not be surprised to learn that they also ran it in the WaPo.
I've hear that a full-page black-and-white ad in the first section of the Sunday Times runs somewhere north of $100,000. Did Wells Fargo pass the hat for this bit of blatant self-serving propaganda, or are we, as taxpayers, helping to pay for it?
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