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COMMENTS: Banks Justify Predatory Profits
NBC's Lisa Myers followed up on Sharyl Attkisson's report on CBS on Monday about the skyrocketing interest rates and consumer fees charged by the major banks that received federal bailout funds through the Treasury Department's TARP fund. A blizzard of consumer complaints has led to momentum in Congress to crack down on "predatory practices," as the critics call it. "Bank executives acknowledge that they now borrow money from the Fed at an effective interest rate of 0%. They say other costs and risks have gone up and they say they are eager to repay the bailout"--thus their need for those extra profits.
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