US government has moved to saved citibank, one of the largest banks in the country, from collapsing. The value of shares of citibank have fallen considerably and it was reported in the Wall Street Journal that the bank would have to sell some parts of its business, in order to gain some stability. The Journal also said that citibank may also merge with some other bank.
The other day I was reading a story on Yahoo which talked about what this merger means for ordinary consumers. I was surprised to learn that consumers will have to pay higher bank fee, late charges, and other fees. I think that this increase in bank fee is not justified. The present financial condition has jolted the common man as well. It is not the affects are limited to financial institutions alone.
Is it not strange that taxpayer’s money will be used to save the bank, who will have to pay additional money in terms of increase in bank fees.
US government has moved to saved citibank, one of the largest banks in the country, from collapsing. The value of shares of citibank have fallen considerably and it was reported in the Wall Street Journal that the bank would have to sell some parts of its business, in order to gain some stability. The Journal also said that citibank may also merge with some other bank.
The other day I was reading a story on Yahoo which talked about what this merger means for ordinary consumers. I was surprised to learn that consumers will have to pay higher bank fee, late charges, and other fees. I think that this increase in bank fee is not justified. The present financial condition has jolted the common man as well. It is not the affects are limited to financial institutions alone.
Is it not strange that taxpayer’s money will be used to save the bank, who will have to pay additional money in terms of increase in bank fees.
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