Bank of America and a dozen other banks receiving tax payer's bail-out money, have been hiring thousands of foreign workers to replace American employees....
....read full article here: http://news.yahoo.com/s/ap/20090201/ap_on_bi_ge/bailout_foreign_workers
In the midst of the most devastating economic down-turn since the Great Depression, these pathetic excuses for human beings, continue to betray the taxpayer, by laying-off thousands of American workers, just because they can get away with paying foreigners less money.....notice that upper management is still in place with their obscene salaries and bonuses.
WE the people, need to start writing our representatives to clean house, fire those greedy traitors, and revamp our financial system ....obviously, these thieves have no idea what the words honesty, decency and integrity mean.
Bank of America, American Express and other banks that handle credit cards continue to go full blast on siphoning-out as much money out of the consumers' pockets, before new laws go into effect 18 months from now, that would render most of their current practices and activities illegal.
The latest one, which thousands of consumers are reporting, specially people with great credit (over 700), who have never been late, never over the limit, and who have their accounts on automaic payments, is the new "error/apology" scam.
Simply, it works like this: the bank short-circuits and stops your automatic payment for a couple of months. Typically, the consumer does not catch it, because the account is on "automatic", and they do not need to check it or make a payment.
Next, the bank marks your account late, they report it to the credit bureaus, lower your credit limit, your credit scores go down, and they "default" you to their 29.9% interest.
Once all this is done, a couple of months later (and in case you catch them), they send you a letter telling you that they are sorry and apologetic that the computer suspended your payment by mistake and that now everything is back to normal and that your automatic payments are back on track.
Some of the banks may even offer to credit you back the penalty fees that they charged you ..... but what they don't tell you is that your FICO scores remain lowered and that your 29.9% interest remains in place.
A lot of people that do not check their accounts regularly, never even find out about this, and they are paying interest thru the nose.
I personally have a lot of good business associates that work in the banking industry, who have high levels of integrity and professionalism, and to them I say I'm sorry for the fools at the top that are giving their industry such a bad name....my disgust is directed to the leadership.
Recently, I have spent a lot of time writing about all this, and frankly, I am getting sick and tired of it .....I long for the day when I can dedicate this blog to more constructive, productive and inspiring themes.