Wells caught
IMHO, when it comes to the big banks, Wells Fargo is by far the most upstanding and customer-focused of the bunch. Yet they still used deceptive practices to bilk their customers with excessive and undeserved fees.
money.cnn.com/2010/08/11/news/companies/wells_fargo_overdraft/index.htm
Just a couple of years ago, practices like this where welcomed by the White House as "the magic of the free market at work". The theory was, if all of the big banks squeezed surprise fees from their customers to increase their profits, then that's what the market wanted, and as a consequence that's what was best for the country. Now we have a White House that is willing to go after the big banks when they break the rules and screw over their customers. Change is good, because banks regulating themselves has been proven to be disastrous.
Speaking of good change, I never understood why it was considered perfectly acceptable for drug kingpins to run their operations while incarcerated.
www.cnn.com/2010/US/08/10/obama.prison.phone.ban/index.html
money.cnn.com/2010/08/11/news/companies/wells_fargo_overdraft/index.htm
Just a couple of years ago, practices like this where welcomed by the White House as "the magic of the free market at work". The theory was, if all of the big banks squeezed surprise fees from their customers to increase their profits, then that's what the market wanted, and as a consequence that's what was best for the country. Now we have a White House that is willing to go after the big banks when they break the rules and screw over their customers. Change is good, because banks regulating themselves has been proven to be disastrous.
Speaking of good change, I never understood why it was considered perfectly acceptable for drug kingpins to run their operations while incarcerated.
www.cnn.com/2010/US/08/10/obama.prison.phone.ban/index.html
posted by zblog at
7:32 PM
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