Yeah, I'm going to take yet another run at blogging, again. This post isn't exactly the return I'd like. It isn't terribly articulate or complete. More appropriate as a FB rant, but it's too long. I promise to do a better job in the future, assuming anyone cares.

Due to challenging economic times, Citibank (a recipient of government bailout assistance, ie: your money) would like to inform me that they are making the following changes to my account: "blah blah blah....... "We are increasing your variable annual percentage rate (APR) to U.S. Prime Rate plus 17.99%" Currently, that would push the interest rate for purchases to 23.99%.

I don't carry balances, but over 50 million households do. Love how they did this right before Christmas, when most of those folks are likely to increase the balance they carry.

I'm all for personal responsibility, however, the regulatory environment for credit is ridiculous and stacked in the banks' favor, still. It just illustrates a fundamental point, one that has caused me to become more cynical about than I ever have been before. An institution, propped up by my money (our money) is empowered to gouge in order to make the debt service on the money I (we) loaned them. Too big to fail? Ha! Citi, Goldman, AIG, B of A, ALL should have been allowed to crater. The next time someone makes reference to the "free market economy" I'm gonna barf. The new era of privatized gains and socialized losses started in the W era not only continues, it's picking up speed.

P.J. O'Rourke said it best recently. What do you call a gathering of Goldman Sachs employees? Felons.