4 Reasons Why Banks Suck
Last Update On February 1, 2012
Number 1: Banks Are Not Producing Anything
During the last years a lot of young people in my country have decided to become bankers. I always wondered why the interest in the banks is so big. What's so special about them? The answer of course is nothing. They don't produce anything actually. They just take your money and use it. Of course there are some useful services like money transferring and so on but the main idea of the bank has always been one - take the money of other people....use it in different deals....profit.
Recently I had the opportunity to watch an interview with the director of the biggest bank in my area. He was asked a lot of questions regarding the credits his bank is giving and his attitude was rather unacceptable. The journalist taking the interview asked him: “How come the interest are always going up and never down and what happens if you can't pay your credit?” His answer was: “This is the economic situation. If you can't pay your credit the bank will just take your house. It's not like me want millions from you.” This is real life. I'm not using my imagination here - he really sad it. So back to the main point - the bank does not produce anything it just takes from you.
Number 2: Banks Take Commissions For Everything They Do
Have you ever wonder how banks make money. It's simple. They take yours and use it in different deals in order to get ahead. At the same time they charge you for each transaction even when you use an ATM machine. Sucks.
Number 3: Banks Can Take Your Home Or Other Property
If you buy a house using a bank credit and you fail to pay the money back plus an enormous interest you may lose your house just like that. The bank does not care. It's all about money.
Number 4: Many Bank Employees Are Treated Like Machines
The bank does not care about the personality of its employees. They are usually treated like machines and no personal development and thinking outside of the box is usually tolerated. There might be exceptions but they are quite few.
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