Earlier in the month, Bank of America announced that it was cutting 30,000 jobs. That’s enough people to work in an entire country. That would be one of our world neighbors that is less developed than the U.S. and much smaller, but it could be done. I wonder how large the Honduran workforce is. Let’s ask the CIA Handbook: 3.9 million. Okay, so I exaggerate sometimes. Thirty thousand souls is still a lot of people. How could they find so many people redundant? Surely, the quality of service and the number of services they provide must decrease.
Now they tell the world that they will be charging a fee! What a surprise! A fee! This one will be monthly and be for possessing an ATM card. That’s because Barney Frank tried to limit the number of ways the credit cards can screw you, back when the Democrats had control of the House and Senate. He tried to limit the unfair practices of credit card companies. One way was to stop the practice of charging vendors fees that they simply passed on to the consumer. Now they are taking a new fee straight to the consumer before they even spend. Just by owning the piece of plastic and having a PIN makes you liable to this fee. They haven’t revealed how much the fee will be, but they have muttered something about rolling it out on a state by state basis.
The banks don’t want to invest in communities anymore. They don’t want to give out small business loans, or help people finance their homes. They just want to charge fees- nickel and diming us to death. No pun intended. I’m glad that I don’t use B of A; however, I’m sure this dastardly practice will catch on with the other banks. This has been a random thought of Russell Smith.