Today I visited a commonly viewed website to see the headlines for the day. Much to my surprise, one headline read “Banks declare war — on you!” “Really?” I thought. “I must have missed that memo.” Of course, I had to click to read more about this ruthless declaration of tyranny and oppression. It turns out that the sensationalized article was not about ALL banks, as suggested, only about credit card companies and credit card issuing banks.
In fact, I started searching for the word “bank” in the article with these results:
“bank” — did not appear in the body of the article–not even once!
“banks” — another no-show
“banker” — never appears
“bankers” — the term is only used twice
“banking” — one appearance as a description, as in “banking regulators”
What this article was really about was credit card companies and credit card issuers. In the interest of full disclosure, this means large, very large companies with Industrial Loan Companies or very large banks–not ALL banks as suggested, and certainly not smaller, community-based financial institutions which may not even offer credit cards.
The bottom line is this: You should be wary of the blanket use of the term “bank.” Remember that the current economic environment was created by large, even “too-large-to-fail” investment banks and greedy institutions (many of which are not banks) that conducted very little (if any) business directly with American consumers. Also remember that a large part of the reason our markets are still operating–be it with a limp–is because there are hundreds, if not thousands, of smaller community-based banks at the foundation of our nation’s financial system trying desperately to treat people with the dignity, respect, and honesty they deserve. These smaller banks have not, nor ever will “declare war” on their customers, because that’s not the way to treat your friends and neighbors.
I will give the author one shred of credit: she managed to point out that you should always be careful with credit cards and credit card debt, and that you should try to get your balances paid off as soon as possible to avoid being the unsuspecting victim of a potential “war” with your credit card issuer. Even when masked in garbage reporting, that is always sound counsel.
Unsecured Loans provides unsecured loans Tips, poor credit unsecured loans, unsecured personal loans at cheap interest rates 2012, 2013, 2014, 2015
Subscribe to:
Post Comments (Atom)
Popular Posts
-
What should you know about college loan consolidation? The consolidation of all your educational loans lets you pay only one lender instead ...
-
A Good Debt? In general, paying of debt as soon as possible is a good practice. The less money you owe to creditors means that you have more...
-
Student loan borrowers make up over fifty percent of college students. Today's high cost of education makes it almost impossible for man...
-
It's true. The average college tuition cost has been rising insanely quickly, much faster than inflation over the past several decades. ...
-
Finding funds for college is a dilemma many people find themselves in today. My daughter wants to go to this big expensive college; I don...
-
Congratulations on earning your degree and graduating! Having a degree and being done with school is exciting and a big step in starting the...
-
Once they are graduated, many past students can find themselves juggling two or more student loans. This makes sticking to a budget and not ...
-
Food, clothing, housing, utilities, transportation, fuel, medical expenses, and a little allowance for recreation - these are all the necess...
-
If you are paying back federal student loans and the monthly payments are becoming more than you can afford, we have great news for you!! Fe...
-
Education is the right of every human being. But most people are unable to meet their dream of higher or secondary education as they do not ...
No comments:
Post a Comment