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Thinking about those laid off Chicago workers occupying the plant .......

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Stinky The Clown Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 02:15 PM
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Thinking about those laid off Chicago workers occupying the plant .......
They got laid off, reportedly, because Bank of America cut off the credit of their employer.

Do you think banks, in general, are using this credit crisis to cut off the credit for all but their best customers? The banking equivalent, if you will, of red lining neighborhoods, or rejecting insureds for pre-existing conditions, or any of a number of unsavory (or worse) business practices designed to maximize the profit factor while ignoring the "Fuck you, Little Guy" factor.

I do. I think some of it is self-preservative and sound and prudent. But I also think a good bit of it sucks and are selfish tactics by the congenitally selfish.
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Raineyb Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 03:38 PM
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1. Absolutely!
They're also using the bailout money to buy up their competitors to get even bigger. Entirely the wrong direction to head in in my opinion.

Gee why didn't I see that coming when this bailout was proposed? Oh right! I did.

<sigh>

Regards
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HiFructosePronSyrup Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 03:40 PM
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2. I don't think they're cutting off the credit for all of their best customers.
I think they're cutting off credit for the good customers, and extending it to the bad customers because they pay more in fees.
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