Tuesday, April 21, 2009

So the banks really are ripping us blind!

Here it is, in writing (as if we didn't know it already). The banks are crying poor and refusing to pass on the rate cuts, all the while, raking in the extra profits from the poor suckers who fixed their rates at the height of the interest rate mess.

Yes, their profit margin has gone from 0.8% to 0.95% in the last year alone.

So guys, what's the problem? An extra 0.15% not good enough for you?

Yeesh!

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