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May 21, 2009 / Raffy Pekson II

U.S. Banks Are Suffering Badly

According to J.D. Power’s latest survey of consumers, the biggest two banks took the biggest hits when it comes to customer satisfaction: Bank of America and Citigroup. Banks that did well include Wells Fargo, Wachovia, Arkansas’ Arvest Bank, Bank of the West, Missouri’s Commerce Bank, Harris Bank, People’s United Bank and TD Bank. (FierceMarkets.com)


The only two banks I’ve dealt with were Citibank and TD bank, both of which I have accounts. However, the spiraling effect of the mortgage bust of 2008-2009 have opened many eyes to the way banks make more money out of your money. Though the free market system cannot tolerate government intervention, when (actually) does such intervention come in as a necessity? The S.E.C. and other government agencies that safeguard the public’s trust over private companies have managed to come under fire because “safeguard measures” weren’t in place, government entities that are run and managed by well educated and experienced people. However, the legislative body also has some blame for not enacting policies that could have prevented this disaster. Lastly, I loved the old Bush guy but never the younger Bush. The former was more hands-on “always on the loop” President while the latter really showed the world his weaknesses for running the show. -RRP

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