Tuesday, August 31, 2010

BPI's Turn to Shove it Up...

"How do you explain that in the worst economic times where unemployment is over 10%, gas is going through the roof, houses don't sell and people can't get loans, banks continue to make outrageous profits? It is BPI's turn to announce a 175 Million Euro profit in a country with 10M people. In case you don't know it is very simple. In Portugal banks pay next to nothing in taxes, are a huge government lobby and are run by ex ministers and ex certified crooks. They gloat on the shameful practice of raising of the interest rate spreads on desperate Portuguese as interest rates go down, therefore ensuring the aforementioned ludicrous profits. Their credit card business was just slapped in the wrist by the government where a law was passed to cap interest rates at 37%! 37% is what most people are paying as they can barely afford to eat, much less pay their balances on time. These officers and directors walk around with salaries ranging from 30,000  to 100.000 euros per month and their stealing  machines still manage to reap huge profits! This legalized robbery leads to a profit of 175 million Euros during a recession. One day Portugal is going to have social unrest and the bankers are the first ones fleeing to Brazil, since Switzerland is no longer an haven for pirates. Let them go!", in Portugal Online.

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