Letter from an American to his bank
Dear Bank executive:
Hereby I apologize for the inconvenience, but I must inform you that I have decided to repay 5% less each month in connection to the mortgage I have with your bank. It has been a tough decision but it is a must to cut expenses to save my personal economy and reduce my deficit.
This kind of situations force us to work together so I ask you to understand and you may be certain that this reduction will be compensated with a debt of gratitude towards your bank.
After all me, just like the rest of Americans, already collaborated in the injection of liquidity you received with TARP to save financial system.
I have been forced to this decision because my parents saw the amount of money I have in my bank account, and they feel compelled to give me money , and you as bankers, know better than anyone that it makes no sense to risk money if there is no profit.
I know that this is legal to take this kind of decisions in a unilateral fashion and without negotiation. The evidence of the legality of such things can be demonstrated by the changes of conditions and interest rates that banks made during this past crisis, as well as the cuts that state governments are implementing.
I seize this moment to communicate that I have enough toasters and dishes, and I need no such a things, so stop giving me such things for I do not need them.
Best regards,
An american citizen.
