I posted this on Burn the ships' thread but there was a lot more going on so I think it was missed.
Washington Mutual was on the verge of of failing. The Fed overnight comes in and promises to buy out all bad mortgage debt so that banks could free up credit and make their bottom line look better for the stock market. The stock market buys in and ups it self by 400 points. (What a joke)
I was informed today as a credit card holder with WAMU that they have given me a $1000.00 increase in credit.
I find it insulting as a consumer but I don't know who to contact. Do the Feds know about this....one of the banks they are trying to save? One of the banks we will all be backing as tax payers, as they try once again to increase their bottom line with more credit?
Do they consider me an idiot? What's the big credit holdup? I will not be tapping into that credit for any reason. I don't know if I am over reacting.....can some one opine on this, please!