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          Monday, December 01, 2008

          Am I the only one wondering how the Citi bailout will go over with . . .


          . . . all the people lost their jobs due to the economic downturn and now won't be able to pay off their Citibank credit cards?

          It will be interesting to witness the irony of sending all that valuable, unsecured debt to collections while writing off all that worthless, secured debt all tied up in mortgages.

          I can't believe that we are allowing our elected representatives to go ahead with giving all this money to Wall Street banks, credit card companies and other corporations that made bad business decisions while leaving individuals who are affected just a seriously out in the cold.

          Comments on "Am I the only one wondering how the Citi bailout will go over with . . ."

           

          Blogger Steve Pierce, Ypsilanti, Michigan USA said ... (2:47 PM) : 

          Citi in the last two weeks sent out new credit card agreements jacking up interest rates by as much as 5%. For many that means their rate is now 18 to 23%.

          So that is what Citi is doing with their $60 billion in bailout money they got from the Fed?

          Citi is going to use the bailout money to bailout their friends and stockholders in Citi but no bailout for the customers that are drowning in debt.

          Just lost your job, sorry about that. But good news, your credit card rate just jumped to 21%.

          Thanks for being a Citi credit card customer.

           

          Blogger yellojkt said ... (9:35 PM) : 

          Don't get me started on credit cards. I despise those greedy b@stards.

           

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