During my online banking experience with Bank of America, I had eventually become used to the endless parade of virtue-signaling graphics they kept hurling my way as I was simply reconciling my various accounts every morning. Today, though, they laid a new one on me after I logged off:
So, let me get this straight, Bank of America:
- You already have access to literally an infinite amount of money, for free, from the Federal Reserve;
- I have the opportunity to put $3 million (“or more”) into an account with you, for which you will pay me 0.01% interest;
- In return, you will reduce my interest rate (which is pure profit for you) by 0.375%, which means all you are left with is pure profit;
- Setting aside the fact that, if I had $3 million in cash laying around, I’m not quite sure why I would deposit it with you and turn around and borrow it right back at hundreds of basis points higher.
Gosh, B of A, I’m not sure what to say! I guess…………..fuck you very much thank you very much!
