The One where it trickled down.

When our government decided to bail out the big banks with taxpayer money, I didn't get all up in arms about it. I love America and believe that the people that run it really do have our best interest in mind. If I didn't believe that, I would be one of those annoying people who are always going off about how things are run as if they could do a better job. So when it was said that taxpayer bailout money would be used to help "Wall Street" and it would then trickle down to "Main Street," I thought, "Great! I'll just be patient while that financial help trickles on down."

Well, it's trickled all right.

Upon opening my Citibank bill yesterday, I saw that my interest rate went from 5.99% to 14.99%, thus doubling my minimum payment and ruining my schedule to have it paid off. So, in a fit of fury and rage, I called to demand an explanation. I was informed that had I responded to a letter that they sent in November, I could have opted to keep my interest rate as it was. Fortunately, I still had that option so I took it. However, because I chose to keep my low interest rate, they will be terminating my account on my card's expiration date after 15 years of being a customer.

And here is why:

The taxpayer money they got from the government was "simply a loan" with a very, very high interest rate. In order to pay back the government plus interest and break even, they have to raise the interest on their customers' accounts. And as far as I can tell, that is how the bailout has trickled down.