Have You Got Any Spare Change?

Negative $63 .00 This is what had greeted me when I checked my account the other day. I was expecting there to be at least $30 in the account, this is used for those small things at the end of the week like milk and coffee, rubber gloves, baby oil, pornography, sex masks. Ok........Okay!

 The -$63 was from my loving partner using my card in ATMs each time costing $1.50.

 What premium service we are getting for this huge cost? Maybe a refreshing drink or a back massage whilst withdrawing a pineapple ($50) at the servo. No. Nothing. 

 It was whilst feeling the sting of this debt that i happened to be watching the news regarding Americas financial crisis. The report was saying how the banks are being bailed out by the taxpayers in the figure of billions of dollars so that they could carry on their day to day business.

 Is it just me who feels the sex organ of bureaucracy closing in on my vulnerable areas? 

Am I safe to say that Americas bank system probably operates in the same style of our own? 

In the past 20 years banks have been making record profits, closing down branches, and inventing new and interesting fees to hoover the last $20 in our accounts. Account Keeping fees, annual fees, overdraw surcharge, direct debit. 

Direct debit, this old scam has been a good one for many years.

 Here is an example of my optus Internet account from last year. The monthly fee Optus charges  is $50, on the 11th of the month they withdraw this amount from my account, bank fees ate up $16 dollars of this amount, so the transaction fails. Ca-Ching, Ca-ching for the bank!......$40 for the bank , $20 for optus Internet for their trouble (transaction fee). So you are $60 down and you still havent paid the monthly fee of $50.

 I am wonder what the $40 pays for? Its alot of money. Perhaps they have a team of staff who have to drive down to the bank vault and get the money out coin by coin and drive it to Optus who have to count it, and all the problems when they discover that the full amount isn't there, the confusion. 

They have to order a round of coffee to sort it all out, the wasted day, the confusion at Optus who have spent $20 on sandwiches for everyone.

If I was ever going to run for office, my one and only policy would be that banks cannot touch the last $20 in your account. People who have $20 in their account know how to make that last for a week (two weeks for some), these are the people who are most affected by these fees. There is nothing more frustrating that going to an atm to get out the last of your money and being told that you have insufficiant funds because bank fees have taken the lot of it. 

This financial situation has come about because banks have been too quick to give people credit, people who cannot pay it back. Who are these idiots that have been handing out the credit, I want to hit them up for $50 at the pub. 

For an example let me tell you about my old housemate Chad.

 Chad was a first year apprentice, he wanted a TV. Chad went to the electrical shop and looked at a cheap TV, Chad then came home with a 100cm wide screen TV, DVD player and surround sound system. $1200 worth of product, with 12 months interest free. In the year he shared a house with me, he made one payment of about $30,  but he watched a hell of alot of TV. I don't know what happened with his TV, DVD and surround sound system, wheather they took it back or charged him for it plus interest. Whos fault is this situation? Chad who earns $200 a week or the credit agency who sees fresh meat? Who ever is to blame is not important now, because someone has to pay for this mess.