Yes, there may just be a huge conspiracy going on. The Chase Bank consumer credit card and home mortgage divisions are losing money which is keeping the economy in bad shape.Annouonced in todays paper, Chase has recorded a RECORD 36% jump in second quarter profits. WTF??? That is because they are screwing us the way they are.
However, Chase Bank has other divisions within their own company that BENEFIT from bad economic consumer news. Chase Bank appears to be able to pounce on acquisitions and mergers and derivatives and get incredible deals. Which they then announce as profit.
So by purposely tanking the economy by raising interest rates to almost 30% on credit cares AND freezing HELOCS at way below market value, Chase Bank is then able to buy whatever they want at severely reduced prices because businesses start to panic over the tanking economy.
A panic that was created by Chase Bank policies that have caused the economy to free fall.
Very few people, if any, besides myself, are linking an on purpose consumer division free fall with causing success in Chase Bank's other divisions, but it seems so logical to me, and unethical and hopefully illegal as well and worthy of an FBI investigation.