Pay your credit card bill even a day late, you’re heavily penalized, but…

It is indeed ironic, that billions of dollars are being used to bail out errant banks and financial institutions.

When it comes to slapping finance charges, and late fees on even the best of their long term customers, these banks are hawk-eyed and merciless. Unscrupulous to the extent that without any warning to the customer, or having the slightest consideration for the special circumstances that may have caused a single day’s payment delay, they move — with lightning speed, and put the collection agency on the customer’s back. These collection agencies hound the customer day after day, morning through evening, even after the customer has paid up in full! Ever tried calling their customer service, or attempted to speak to the supervisor? All in the name of customer service, they repeat their script with feigned patience. It would seem that they have not even listened to what the client had to offer as explanation for the delay. Remind them that you’ve been a customer of their banking services – including savings accounts, check-in account, CDs, etc for over 20 years, with an impeccable record! Nothing, no go… just pay up (or suffer consequences i.e. mark down in credit rating, increased interest rates… the works)!

All this while, there’s no oversight within the bank. Are we, the people, in a position to penalize these miscreants? They have thousands of employees; if one goofed up, the other should have been watchful. Despite that, how is it that these high paying super-humans – Gods if you will – foundered? Even now, it is our – the people’s – money that is bailing them out of their follies, via the government.

Citibank… wow, I’m sure many of you have felt anger, suffered embarrassment through experiences not quite dissimilar from the one I described above. Are you not mad, irked, and seething by these bailouts? The fear is instilled in us… If we don’t bail them out, the entire financial system will collapse. The economy will be ruined. The stock markets will plunge. Paucity of working capital will ruin businesses big and small. Well, who is to say that all will be hunky dory even after these billions of dollars worth of bailouts. The issue is about trillions of dollars… a few hundred billion dollars are not adequate to fill the gaping pit! Watch out, while the Citi(s) of this country are being bailed out, the citizens must fend for themselves. How? Borrow, borrow, borrow… live in debt, die in debt; be thankful to Citi… they’re back in business, thanks to the government’s rescue plan. We the people are alive, only to be indebted to the likes of them!

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