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How may you ask? Today Citigroup has lead a consortium of investors in purchasing one of China’s largest regional banks. So I am glad to see the late fees and interest I have paid to Citigroup over the years have allowed them to purchase a bank.

Seriously I am not bitter at all. I made the choice in the past that allowed my self to get into debtand owe money to the Citigroup. But it’s a perfect example of how interest works in your favor when you are on the other side of the debt equation. We should all make sure we are debt free so we too can make our money work for us. Not that we will be able to purchase a bank any time soon but we as Americans should set the goal of securing a financial secure nest egg for retirement.

Oh and if you want to know how much a bank in China cost? $3.06 Billion dollars.

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This entry was posted on Thursday, November 16th, 2006 at 9:43 pm and is filed under Debt . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.