Slimsum

Another Citigroup Scandal: Business as Usual for Wall Street

You get 5 stars for this article Jeff. Reading over the comments, seems like employees and Citi dedicated staff are making negative remarks. Slander the employee's? Heck, anyone of them that knows of this type of thing going on is just as much a crook as the heads of the company. The only thing I disagree with you on is that the number one and number two problems you write should be changed. Public apathy towards this sinful banking should be the worst problem. And everyone, keep your eyes and ears open for how hard the banking industry is going to fight to keep from having one entity formed to protect us, the consumers. They will do everything in their power, including the use of more dollars than the average reader will see in many lifetimes to wield power and leverage to control the vote in congress to make sure that WE THE PEOPLE are not protected as we could be by our own government. One little agency to make sure mortgages are written in readable language, one agency to make sure that credit card rates are run up un-reasonably, one agency to be on our side instead of the functions being split, as they are now, between four to seven different government agencies. Now that is a fight I am going to follow in the coming months. Are our elected officials going to do right by us and form the Consumer Protection Agency? Or are they going to kiss the banking industry once again. Oh, and by the way, in all this TARP payback, where is our interest and warrants? Are we getting full value? Last I heard, the banks were complaining that they didn't want to have to stand by the contract. That the 'interest rate' was too high? Humm, haven't I heard that same comment from many of the same bank(s) customers? Give em hell Jeff.

Edward S.