Oz Banker Caught Porn-Surfing on Live TV
It’s about a minute into the clip on one of the background computers. That’s definitely not a financial spreadsheet : ) Lester Haines writes on the Register:
An employee of Sydney’s Macquarie Bank probably isn’t in line for a fat payrise after he was caught on live TV closely analysing something a bit more scintillating than the Lucky Country’s interest rates:
According to net experts, at least one of the photos in question is Orlando Bloom’s squeeze Miranda Kerr. The Victoria’s Secret Angel is a local lass made good, and is rarely seen dressed in more than her underwear, which makes her the pin-up of choice among Sydney’s hardened bankers.
Credit Reform and My New 703.8% Card
Kathy Kristof writes on CBS Moneywatch:
Consumer reporters were all crowing about a 79.99% rate credit card that was launched in response to credit reform a few months ago–collectively horrified that a law designed to cut rates and eliminate sneaky fees was inspiring increasingly abusive bank behavior.
I thought that was about as bad as it gets until I took a close look at the statement for my new Macy’s card, which I had opened with “instant credit” while Christmas shopping. It made that 79% card look like a bargain.
Department Stores National Bank, which issues the card, charges a “minimum interest charge.” On my average daily balance of $3.41, that minimum charge worked out to “an actual annual percentage rate” of 703.80%. (Part of the impact of last year’s credit reform is that…
The Credit Card’s Newest Trick: 79.9 Percent Interest
Candice Choi writes on the AP via Yahoo News:
It’s no mistake. This credit card’s interest rate is 79.9 percent.
The bloated APR is how First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry. It’s a strategy other subprime card issuers could start adopting to get around the new rules.
Typically, the First Premier card comes with a minimum of $256 in fees in the first year for a credit line of $250. Starting in February, however, a new law will cap such fees at 25 percent of a card’s credit line.
In a recent mailing for a preapproved card, First Premier lowers fees to just that limit — $75 in the first year for a credit line of $300. But the new…
Goldman Sachs Official Says Jesus Embraced Greed
Matt Taibbi writes:
I didn’t believe this story was true at first — thought it had to be a spoof. But it turns out to be true. The great banks of the world have gone on a p.r. counteroffensive in Europe, and are sending spokescrooks in shiny suits into churches to persuade the masses that Christ would have approved of the latest round of obscene bonuses.
Goldman Sachs international adviser Brian Griffiths explains it this way: that Christ’s famous injunction to love others as one would love oneself actually means that one should love oneself as one would love oneself. This seemingly baffling outburst by a Goldman executive in what appears to have been a prepared speech — someone actually wrote this, and thought about it, before saying it out loud — gets…
Pay Your Bills on Time? There’s a Fee for That.
In an attempt to squeeze more revenue out of consumers who don’t rack up much debt, Citigroup, Bank of America, and other credit card companies are adding new fees. According to USA Today credit card users are being hit with new “inactivity fees” and fees for not putting enough debt on your credit cards. Consumers thinking about canceling their cards face taking a hit to their credit scores for closing an account.
Other consumers may have no choice – Citibank has been closing some credit card accounts without reason or warning, damaging their customers credit ratings.
I cut-up my credit cards last night.
