Random Thoughts
Banking on Greed
Almost everyone I speak to these days has a continuing story to tell on how they are being ripped-off by erroneous charges and hidden fees from financial corporations. Nobody is immune from becoming lured into a financial offering, only to find out later that the lure of a fair deal turns into a cautionary and costly tale of extreme greed.
Life's experiences teach us to become more aware of the risks from people and companies we do business. However, I guess we never stop learning and surprises lie in wait for us all. Even people who consider themselves worldly-wise can and do get caught up in the web of corporate avarice.
To cut a long story short, I forfeited more than $2,000 in two months on a continuing bank certificate of deposit because I forgot to renew it in the grace period and they renewed it at a low rate of interest. I was out of the country for two months. When I found out I said I would not accept their low rate as new customers got 2% more. I closed the account and I was penalize $1678 + losing 2% interest for two months. Since a CD guarantees preservation of capital, this one flaunted that law.
I stated I did not accept the low interest rate and I do not accept any penalties charged to my account as I felt I was abused and unjustly treated. Alas, they took no notice. In fact, they seemed quite proud that they could get away with it. I stated that the morals and the ethics of the treatment of customers at this bank were outrages. But still, I got nowhere fast and had to admit defeat and a loss of $2000 on my savings. I guess I realized that if anyone seeks sympathy from a bank they will find it located in their prospectus somewhere between avarice and greed.
To sum up my experience, I trusted the bank to deal in an ethical and evenhanded manner with my money that I entrusted in their care. Foolishly, I expected to get the same new rate of interest as every other person would get who opens a new CD on the same renewal date. I did not expect any more, nor any less, than what was being offered to the general public in the banks marketing campaign. What I obtained was an example of how trust can be abused for the sake of the greedy few who make cleverly planned, deceitful rules and regulations.
The paradox is this bank scavenges a few thousand dollars from its loyal customers, while it writes down billions of dollars from bad loans in the sub prime debacle. Strange is it not how universal laws cannot be winked at and disregarded. History teaches that even the great dynasties are eventually conquered by their own weapons of detrimental ambitions, immoral greed and uncaring deeds.
The bottom line is, even when we personally experience unfair treatment from large corporations, or anyone else, we still need to understand that the real riches of life cannot be taken from us without our permission. The love and joy of each new day should be savored ... Even though many things are sent our way to try to take away the serenity, the truer reality, of who we are, can make bad experiences melt like butter on a stove ... Universal principals, are in-deed, you pals for life, in good times and nasty experiences.
The human intellect of sneaky cleverness dwells on the outer surface of the circle, thinking it knows how to live. Many times, it will hatch out schemes that are filled with devious cunning and skullduggery. While the dastardly cleverness is sometimes aimed in our direction, our identity, that contains truthful intelligence, exists in the center, creating a delightful, contented repose.
There is no price tag on our joyful peace and tranquility ... Even though we may experience a setback from time to time; the power our universal architect provides extraordinary energy, allowing our soul's flow of joy to restore a treasure chest of indestructible assets, for a lifetime's blissfulness.
28-Oct-2007
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Michael Levy
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