Jokes: Using Humor

Wednesday, November 3, 2010

Using Humor

Posted: 03 Nov 2010 09:21 AM PDT

WASHINGTON - MAY 13: Senate Banking Committee...

Senate Banking Committee after talking to top bankers. Image by Getty Images via @daylife

Financial analysts are growing increasingly uneasy about Bank of America’s current interest rates. One analyst borrowed a term from Las Veas claiming “The loosest rates in banking.” he went on,

“I am not sure they can continue as a viable entity much longer.”

What is causing this concern is the tiny spread between the interest rate charged for credit card transactions starting at 14.5 percent, and what the bank pays for savings accounts, 1/10th of one percent.

“It is insanity, these rates cannot be maintained!”

Quoted one analyst. “To expect an institution to survive on a 14.49 percent spread is folly, no matter how many credit card users default into the more reasonable 29.95 percent bracket.”

Not all was doom and gloom, many analysts were pleased with BofA’s new one percent rewards program on their credit cards. and a bank spokesman was quoted, “Between charging customers a fee to move their own money to cover overdrafts, and this new program which can generate $13.00 in interest for ever dollar we pay out in “rewards,” we feel we are in a very good position to continue our executive bonus program. Our customers can count on Bank of America to be there for Wall Street.”

When asked about the disconnect between paying people a dollar for spending $100, versus only paying 10 cents for saving $100 dollars. A bank spokesperson said, “I’m not sure I understand your question.”