Adding new charges to switch over accounts sure sounds like a "See? We're going to make sure we only deal with creditable customers. See? Now everyone can ignore how we loaned money to people who couldn't afford it. We'll just make sure only the Haves can bank here. Let the Have Nots worry for themselves. They probably did it to themselves anyway blah blah...". I'm only speculating but most banks now know everyone's aware they were lending money to people who couldn't pay it back and the lending contracts set up in such a manner to nearly ensure it.
So, pass the guilt and banks do that doing what they do best. Not unlike the buck
Several bank execs here walked away from the businesses they drove into the dirt with millions of dollars in 'separation salaries'. Which really added salt to the wounds of the public.
"Oh? You mean he gets paid MILLIONS of dollars for doing a bad job? Wow. The rest of us just get the axe and the boot in the backside."
More and more the message sent from the top down, particularly to young 'uns, is that being successful in business and politics means being highly unethical, sociopathicly self-serving, dispassion for the fallout, and otherwise without conscience or compassion towards clients and their own employees ( in banking, i'm talking about tellers..not ceo's...most bank tellers these days are not happy folk ).
The exact traits we accuse the drug dealers of having who pull kids in with fast money and nice cars. Why go to college? There's no jobs after. Why work my ass off? My dad did and he got fired for it. None of those people at his work care that we're losing our home. And they just went and hired six Malaysians to replace him because they'll take a lot less money."
There are whole segments of our youth culture here that believe exactly that. Any money they make in crime, they don't pay to the IRS because they don't pay taxes. They make their money and it's their money. College is a joke because you have accrue hundreds of thousands of dollars in loans to get through it with no guarantee you'll get hired. Then you have all that 'bunk' hanging over your head. But if I go out and sell seven pounds of weed, I can more than make my rent and pay for my car. More and more they see themselves cut off from any 'american dream' - particularly inner city and very rural youth - the dream doesn't represent them at all and the adults all seem to be gang banging except in suits and ties and on the 30th floor of office buildings.
Kids have really great bullshit detectors. Ask any parent Mess up and let them catch you in the act of hiding it, or talking at them sideways, and they'll catch you up on it. Well, inner city youth are even better at that.
The adult world is losing the ability to hold the higher moral ground every day. Parents smoking pot with their teens, letting them go when and wherever they wish ( the "I'll be my kids friend" syndrome when it should be I am my kids Parent and sometimes that means making hard decisions )
Anytime the moral high ground is assaulted and crumbles apart in a stinking hypocritical mess, the younger gen is going to see the older as being far less credible when they speak about ethics or the importance of this or that issue.
way to ernie madoff....way to go GM...way to go banks everywhere...way to go mortgage lenders...way to go politicians who defend this shit or are participating in protecting them...
it's a sickening subject for everyone...i can see a future model of home living where several couples with children buy homes together, with plenty of space for everyone, and chip in all together to keep it going...
oh wait...that's a commune...