It’s a simple question: why the hell would you bank with someone who wants to charge you to loan them money. Say I ask you to loan me $200…would you allow me to charge you a 45 fee for the honor of holding onto your money? So why would you stick with a bank that does this?


It’s not just that Wells Fargo wants to screw it customers with this new policy. The use of this “negative interest” — as with Chase Bank’s moves to stop international wire transfers and to control the amount of withdrawal from depositor’s accounts


— shows the state of the banking industry — the bailouts and attempts by the Federal Reserve to try and re-inflate the loan industry have been wholly unsuccessful. The next banking collapse is just a blip in the mortgage or student loan market away.