News article: JPMorgan Chase posts better-than-expected profit
Yeah and I know why, my credit card interest rate jumped from 14% to 28%. No warning, no notification. I understand though, that’s exactly what the banks need, more money. A few billion dollars free bailout money just ISN’T ENOUGH.
The problem with our society is, it will never be enough. The point of a corporation is to make profit. If you make less profit than you did the year before, why you must be doing something wrong. More more more, how much more do they need?
Banks really tick me off. Their overdraft fees and interest rates are crazy, and they really only affect the lower and middle classes. A rich person isn’t going to overdraw their account. A rich person doesn’t need to take out a loan to pay interest. No, a rich person will put their money in a CD or something similar, and let it sit there and collect interest…pretty much, they’re getting free money just for having money in the first place. Where does that free money come from? Our pockets, our interest rates, our overdraft fees. This has always seemed unfair to me, but even more so the last couple of years.
If at all possible, get your money OUT of Chase and other big banks. Use small banks if you can. We shouldn’t give our money to the richest people in America anymore.