Clarity

Have you seen that Bank of America has become the first financial institution to issue all of it’s card holders a one page statement that explains their rates and fees on their credit card.

The really funny thing is the news media is applauding this like something new and different and patting BofA on the back.

Hell, I can issue a one line statement that will tell card holders from every financial institutions clearly and concisely what their relationship is with their bank…

YOUR BANK WILL SCREW YOU OVER EVERY CHANCE THEY GET.

I’m just not sure what I’d do with the rest of the page.

Honestly, why is the news media treating a lack of “double speak” like something that should be applauded and not treating the rampant abuse almost all financial institutes exercise on a daily basis as something to be put in the fore front?

Admittedly I don’t have much respect for banking institutions (nor do I have much respect of the news media in the United States) — but give me a break, how stupid does the media think the average American is?

Originally posted 2009-12-20 01:00:34.