Time to celebrate: Citibank jacks up interest rates, reports a "profit," and the DOW surges!

[Skwmom]

Of course, paying loan shark rates will require many Americans to struggle even harder to make ends meet. But hey, on the bright side, the Citicorp execs will probably get a salary increase (formerly referred to as a bonus) for improving the bottom line.

Has anyone else noticed how bank fees (ATM charges etc. are increasing)?

Hmm... I wonder if they are providing sufficient reserves for the defaults that will occur b/c of these jacked up rates. .. Oh wait a minute. Citibank overstate their profit. What am I thinking... :rofl:

[RUMMYisFROSTED]

1. What's a 21% rate hike between friends?

:shrug:

[marmar]

2. Pandit is under a great deal of pressure.....I bet there's some Enron-esque accounting going on.

n/t

[Skwmom]

3. There needs to be a major overhaul of the public accounting system.

Many audit reports aren't worth the paper they are written on. But what the heck, when millions are paid for an audit those companies should at least get the report they want.