Banks Increasing Their Spreads With Lower Interest Rate of 1 Percent
November 2, 2008 – 6:33 am
Wow!
Banks continue to increase the credit card interest rates despite the fact that they are getting money from the Federal Reserve at 1%. The banks are only focused from quarter to quarter. They do not realize that this pattern of hoarding and short-term profit-taking is going to only result in currency collapse.
You see? Just like a said in my December 2007 Brooding Post, the bankers (especially the MBA) aren’t too bright.
