Andrew's ramblings

Bank Fees and the Economic Greed

Tags: General

I guess by now you would guess that on a global level the world is headed for extreme trouble, the problem is the current Economic greed of all financial institutions.

Nobody can blame them for having to answer to their share holders, but that is the problem. It is because they do have to answer to their shareholders, when the greed factor highlights the fact that they are in it to make money and your not of any real interest.

Gone are the days when personal service, was just that personal. With the advent of computers, large corporations have laid of thousands of people and for what.

The thing is that computers have been able to create or should I state, that they have enabled these companies to process more in terms of billable human hours. And yet, even though they cut jobs and lay off staff, there is a little known problem that we end up being charge up to 92 times more than what it cost these banks to recover their money.

And yet, they still make profits that never come back to the consumer for helping them. Unless your a shareholder to these financial institutions, or you can invest money to earn something. And it is the people who can't do this, the unemployed, Senior citizens or even the disabled. It all designed to take you as a number, not as an individual.

But are the fees really moral, or are they there to encourage less work from their staff. I challenge that these companies, are in it only for the profit and nobody not even the staff that work for these companies are even safe any more, as profits take center stage.

It has even bee stated that the people who are making the banks money, are those who are struggling and in some cases can be double charged by both sides of the transaction. So it might have been a $40 direct debit, but it could cost you in excess of $100 for the one transaction.

How can these financial institutions, keep getting away with the current Economic 101 greed?

And maybe with the Global financial trouble that the world is currently facing, do any of these large companies care? No they don't, and if you work for these people then you know that your job is not as safe when thing do get tight.

Just so they can keep their profits, their is no compassion in business any more and the teaching of Economics 101 is now showing how floored with greed the system is.