Comments | kurukami: Yet more tales of the downturn.

kurukami

Yet more tales of the downturn.

Mar 28, 2009 23:03

And yet another reason why I am so very glad I shifted away from megabanks and have no intention of ever going back.

Yesterday Citi pulled our Line of Credit ( Read more... )

downturn 2008-2009, economy, great depression redux, real life

Comments 2

tent_wench March 29 2009, 12:17:54 UTC

This is absolutely horrifying and so, so WRONG. I think they know exactly what they are doing to people and it's all part of something really, really diabolical going on behind the scenes. It's all FUBAR.

kurukami March 29 2009, 12:59:45 UTC

Yeah. Like I said, that's one reason I'm glad I switched away from big banks. I'm also glad that I'm paying down all my credit cards as quickly as possible, and hopefully will be rid of that debt within a few short months.

That's without even looking at all the US Treasury notes currently sitting in Chinese financial institutions. What happens if China decides that the U.S. isn't a reliable repayer of the debt they've taken out and refuses to extend any more credit? Then the U.S., as a country, is well and truly screwed.