KATHY POSNER DEFENDS THE BANK CROOKS
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THERE COULD BE
THE
BANK OF KATHY POSNER
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THERE COULD BE
THE
BANK OF KATHY POSNER
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Editors Extra: We love Kathy Posner dearly, this is why we publish her in Times Square Gossip on a regular basis. And we tend to disagree with her 40 per-cent of the time, but we love her opinion on many topics, and we give you ours. Banks have tried every trick to steal our money and no one has gone to jail from Bank Of America. If Fact, two years ago I accused Bank Of America of switching bank fees around and transactions so they could nail you with a overcharge. Each and every time they denied this, even know I check my accounts almost on a daily basis. Finally they were caught last year and they settled, without admitting anything for 750 million. Meanwhile, I was out all my overdraft fees, because they gave you a very limited time to claim any monies due. And besides, the limit was 70 bucks and depending on how many people claimed the money, it could have been 10 bucks. They switched my account around so I was one cent short on a check. They charged me the 39 dollar fee and then almost doubled my interest on my credit card, which had nothing to do with my checking account. When I called to ask why, they said I was a bigger risk. Meanwhile, I got stuck with paying all that extra money on the card, even after I cancelled it, because I do not do business with crooks. You can read that story here. Meanwhile all the bailout money that Bank Of America took was not used to release credit to the consumers, it was used to open more branches to beat their competition. They have many more issues. One over a SEC civil lawsuit accusing the bank of making false and misleading statements to shareholders about bonuses promised to Merrill employees. A federal judge struck down a proposed settlement reached between Bank of America and federal regulators over outsized bonuses paid to Merrill Lynch employees. In a ruling issued Setp. 14th, U.S. District Court Judge Jed Rakoff called the proposed $33 million penalty between the Securities and Exchange Commission and the Charlotte, N.C.-based bank "neither fair, nor reasonable, nor adequate." Both parties, as a result, were ordered to head to trial, starting Feb. 1, 2010. Regulators had claimed that Bank Of America effectively lied in its proxy statement, saying it would not pay out bonuses to Merrill employees in fiscal year 2008, when, in fact, the bank authorized bonus payments of as much as $5.8 billion. Of that allowance, $3.6 billion was paid out in 2008 to more than 39,000 Merrill employees. It does not matter how many fines they pay, the end result is we pay for it all with higher bank rates. The only way to stop the greed of Bank Of America and the crooks of Wall Street is to start sending these CEO's to jail. My good friend Kathy, live a week in my shoes. I have most likely a higher credit score than you, and every credit card company has slammed me with higher rates, because of all their greed and corruption that made the rich people richer. I never got a mortgage I could not afford, I never cashed in a Cash For Clunker, I paid my bills on time and always did the right thing and I have been nailed to the wall so the rich people can still cash in on their greed !
Click Here To Read More From Kathy Posner, If You Dare !
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