I have had it with this whole bailout crap to save the country. It should be called what it is, President Bush and Hank Paulson reward their big donor pals on the backs of the taxpayers.
Today Citi Group got $20 Billion in capital and $300 Billion in bad debt guarantee's. Well the fat cats at the top of Citi Group are dancing all the way to their jets for vacation.
I came home today to this news and two little gifts in the mail from Citi Group. The first was my monthly statement which I expected. The second was a form letter with not date and no postmark. It informed me that my interest rate was going from 5.9% to 24.99%.
Did I miss a payment - nope
Did I go over my limit - nope
Did I do anything outside of my agreement - nope
Citi Group informed me that they were taking my interest rate to 24.99% because they want to. So now they can make more money to make Wall Street happy....and if you have read this blog you know what I think of Wall Street and their goofy analysts.
So not only as a taxpayer do I have to pay for the $20 Billion, and now I am sure the $300 Billion but my interest rate has now gone up 400%!!!!
Welcome to Corporate and Wall Street welfare. I am totally out of my mind tonight. I have worked hard, paid my bills and worked hard to have an excellent credit rating....FOR WHAT?
ENOUGH IS ENOUGH! I have calls into all my legislators asking them to withdraw this bailout and let Citi close their doors.
All my good friends on the right kept telling me that Sen. Obama was a socialist. Well I guess they should know since their guy is giving it a whole new definition.
I think it's time for a tea party! Please call your legislators and tell them let Citi Group go under!
Too big to fail? No because by propping it up we are all going to fail!
More to come!
PS.... If you get any letters in the mail from your credit card folks make sure you open it and read it. While I have an opt out clause which I will take most people would not even read it.