Credit Card Industry Kicks Consumers Off Congressional Panel
| Fri Mar. 14, 2008 12:30 PM PDT
In 2000, Illinois resident Marvin Weatherspoon (right) got a Bank of America credit card that he used to consolidate $12,000 in home repair bills, thinking the 4.5 percent introductory interest rate would help him get out of debt faster. Instead, though, eight years later, he has paid the bank more than $15,000, yet has reduced his principal balance by only $800. The reason? Even though he's paid his bills on time, Bank of America inexplicably raised his interest rate, first to 19.99 percent and then to 25 percent, where it is today.
Weatherspoon came to Washington yesterday to tell his story at a hearing on the Credit Card Holders Bill of Rights, a bill sponsored by New York Rep. Carolyn Maloney (D-NY) that would restrict the kind of arbitrary interest rate increases Weatherspoon got hit with, among other things. But as it turned out, Weatherspoon never got to testify. The ever-powerful credit-card companies successfully bounced all of the consumers off the panel, leaving only academics and credit card executives to speak publicly.
At the outset of the hearing before a subcommittee of the House Financial Services Committee, Maloney explained that "there have been fairness concerns raised about having consumers testify this morning without a waiver that allowed their credit-card issuers to respond publicly." Translation: The credit card companies wanted the consumer witnesses to make their financial records public so the banks could "rebut" their complaints, i.e., trash them in the press.
Continues Below
Continued From Above
It's not unusual for Congress to ask hearing witnesses to sign privacy waivers. When Sen. Carl Levin held a hearing on credit card abuses in the Senate last year, witnesses also signed privacy waivers, but they were designed to allow only the Senate staff to access some of their financial information so they could verify it in advance of the hearing. It was basically for the Senate's own due diligence.
But the waivers that Weatherspoon and the others were asked to sign were far broader, and they were foisted on the witnesses only hours before the hearing. Some of the witnesses didn't get them in advance at all. The credit-card executives, of course, weren't asked to sign any waivers at all that might allow Congress to actually verify the claims they were making.
Democratic members of the committee protested, and Republicans threatened a bunch of disruptive procedural maneuvers if the waivers weren't signed, so Maloney and Frank agreed to put the consumers on ice until some later day, probably in April. Still, score one for the banks. For the moment, they headed off another day of bad press, as without the consumer angle, the media all but ignored yesterday's hearing.
Comments
These chain banks will destroy our society if left un-checked. The history of animosity between the banking cartel and America at large goes back literally to the day in 1913, when the Federal Reserve was established. In fact, during the Depression, FDR ordered money printed outside the control of the Federal Reserve Bank?in order to break their absolute monopoly. When Jimmy Carter managed to pass a consumer-friendly revision of the US Bankruptcy laws, Paul Volker (Federal Reserve Chairman) answered Carter with 15% "discount rates". The Chairman of the Fed is selected by the US President from a short list of applicants provided by the Banking industry themselves. Soon after Bush-W was appointed president, the jurisdiction of the "OCC" (Office of Comptroller of Currency) and therefore the Banking activities was removed from the consumer friendly House Committee on Commerce and Energy and redirected to the business advocating House Committee on Financial Services. During the past 8 years, perhaps hundreds of state-chartered Banks have been purchased outright by national giants and their license is switched to the OCC. Therefore, State Banking Laws have been ruled in-valid (by who else but the Federal Courts) in policing the nationally chartered banks.
According to Wikipedia.org:
"The OCC {Office of Comptroler of Currencies} was created in order to instill confidence in the National Banking system and protect consumers from misleading business practices."
However, in reality, since Bush-W took charge, the Director of the OCC has been a rubber-stamp of approval for the twisted and greed-mongering actions of the chain banks. In the clear light of day, the Director of the OCC has existed to protect the banks from regulation.
Part of the economic problems the USA faces is the direct result of the chain-banks using diminished credit scores to raise interest. After enough years of this practice, the average American's credit score had declined by 20%. Now, no one can afford to buy anything (at 32.99% interest) and people wonder why the GNP is flat?
Bank only at State chartered banks. If they get bought, move your money back to another. Email your friends. This situation is VERY serious.
This is an obvious failure of government and it is the kind of failure from which revolutions are spawned?was not one of the calls of the founding fathers of this nation "taxation without representation"! Tyrants such as Saddam Hussein are irrelevant when the US itself suffers from tyranny in the most horrid forms imaginable?the president of this nation has openly condoned torture and still the American people sit like slugs on rotten wood. (rotten wood is what has become of their homes, as well as the the spirit of freedom itself)
Credit institutions are one of the critical factors directly responsible for the meltdown of the US economy. Failure from government to set limits on what credit institutions have the right to take in terms of fees, the cost of the credit services (your yearly fee for having a card), in terms of the interest rates they take?apparently credit card institutions are viewed by government as being part of the banking system. Thus instead of electronic money being the perfect environment for achieving a system where the interest rate on savings is equal to the interest rate on borrowing (what a true market dictates) we see rather a system that is like the loansharking business the mafia has run since at least Shakespeare penned the merchant of Venice?because today we are literally run by the Shylocks of America.
The most obvious consequence of the corrupt and criminal behavior of the credit institutions is the present threat they pose to national and global security?because Credit Institutions have been allowed to finance their risk by stealing the entire savings of the American people (American households have zero savings on average and the acclaimed "mystery" to so-called economists is why?). An obvious problem here is that Homeland Security is not looking for "terrorists" but rather a "stereotype" of what constitutes a terrorist. When the greatest threat to Americans, to their freedom and security is derived not from terrorists per se, but rather from the now common practices of a thoroughly corrupt business world?whose activities remain unregulated means a real form of terrorism are precisely these credit institutions and the fact that Mr. Weatherspoon wasn't even heard by Congress shows another side of terrorism?namely the failure of government to represent the people. (true enough some of these "stereotype terrorists" are indeed dangerous, it is unfortunately impossible to know which of them are since none of them will ever be tried in a court of law under the founding principles of this nation because a terrorist sits in the White House, while cowards inhabit the Congress)
Remember the 2nd Amendment and evaluate clearly why this amendment was incorporated into the constitution--because that Amendment, the concept of creating a militia for the people and the Declaration of Independence along with the meaning and significance of the Bill of Rights are what each and every American must avail themselves to. Change does not occur through speeches but 300 million armed Americans with their guns pointed at the White House and at failing government will awaken the government to their failed duties as representatives?legislation must be created that forces the corporate structure to bow before the rights of the individual and not the individual to the corporation.
These chain banks will destroy our society if left un-checked. The history of animosity between the banking cartel and America at large goes back literally to the day in 1913, when the Federal Reserve was established. In fact, during the Depression, FDR ordered money printed outside the control of the Federal Reserve Bank?in order to break their absolute monopoly. When Jimmy Carter managed to pass a consumer-friendly revision of the US Bankruptcy laws, Paul Volker (Federal Reserve Chairman) answered Carter with 15% "discount rates". The Chairman of the Fed is selected by the US President from a short list of applicants provided by the Banking industry themselves. Soon after Bush-W was appointed president, the jurisdiction of the "OCC" (Office of Comptroller of Currency) and therefore the Banking activities was removed from the consumer friendly House Committee on Commerce and Energy and redirected to the business advocating House Committee on Financial Services. During the past 8 years, perhaps hundreds of state-chartered Banks have been purchased outright by national giants and their license is switched to the OCC. Therefore, State Banking Laws have been ruled in-valid (by who else but the Federal Courts) in policing the nationally chartered banks.
According to Wikipedia.org:
"The OCC {Office of Comptroler of Currencies} was created in order to instill confidence in the National Banking system and protect consumers from misleading business practices."
However, in reality, since Bush-W took charge, the Director of the OCC has been a rubber-stamp of approval for the twisted and greed-mongering actions of the chain banks. In the clear light of day, the Director of the OCC has existed to protect the banks from regulation.
Part of the economic problems the USA faces is the direct result of the chain-banks using diminished credit scores to raise interest. After enough years of this practice, the average American's credit score had declined by 20%. Now, no one can afford to buy anything (at 32.99% interest) and people wonder why the GNP is flat?
Bank only at State chartered banks. If they get bought, move your money back to another. Email your friends. This situation is VERY serious.
This is an obvious failure of government and it is the kind of failure from which revolutions are spawned?was not one of the calls of the founding fathers of this nation "taxation without representation"! Tyrants such as Saddam Hussein are irrelevant when the US itself suffers from tyranny in the most horrid forms imaginable?the president of this nation has openly condoned torture and still the American people sit like slugs on rotten wood. (rotten wood is what has become of their homes, as well as the the spirit of freedom itself)
Credit institutions are one of the critical factors directly responsible for the meltdown of the US economy. Failure from government to set limits on what credit institutions have the right to take in terms of fees, the cost of the credit services (your yearly fee for having a card), in terms of the interest rates they take?apparently credit card institutions are viewed by government as being part of the banking system. Thus instead of electronic money being the perfect environment for achieving a system where the interest rate on savings is equal to the interest rate on borrowing (what a true market dictates) we see rather a system that is like the loansharking business the mafia has run since at least Shakespeare penned the merchant of Venice?because today we are literally run by the Shylocks of America.
The most obvious consequence of the corrupt and criminal behavior of the credit institutions is the present threat they pose to national and global security?because Credit Institutions have been allowed to finance their risk by stealing the entire savings of the American people (American households have zero savings on average and the acclaimed "mystery" to so-called economists is why?). An obvious problem here is that Homeland Security is not looking for "terrorists" but rather a "stereotype" of what constitutes a terrorist. When the greatest threat to Americans, to their freedom and security is derived not from terrorists per se, but rather from the now common practices of a thoroughly corrupt business world?whose activities remain unregulated means a real form of terrorism are precisely these credit institutions and the fact that Mr. Weatherspoon wasn't even heard by Congress shows another side of terrorism?namely the failure of government to represent the people. (true enough some of these "stereotype terrorists" are indeed dangerous, it is unfortunately impossible to know which of them are since none of them will ever be tried in a court of law under the founding principles of this nation because a terrorist sits in the White House, while cowards inhabit the Congress)
Remember the 2nd Amendment and evaluate clearly why this amendment was incorporated into the constitution--because that Amendment, the concept of creating a militia for the people and the Declaration of Independence along with the meaning and significance of the Bill of Rights are what each and every American must avail themselves to. Change does not occur through speeches but 300 million armed Americans with their guns pointed at the White House and at failing government will awaken the government to their failed duties as representatives?legislation must be created that forces the corporate structure to bow before the rights of the individual and not the individual to the corporation.
we all know that credit card companies are scum. we know they screw us every single chance they get, so whey do we continue to ask surprised? you think the tactics they've resorted to are sleazy, wait until the economy slows down further. PAY OFF YOUR CREDIT CARDS NOW. make it a priority, because it won't get any easier any time soon.
Get "labels" correct or you are just as bad as Fox News or the other talk-show idiots:
Credit Card companies don't charge interest: Banks do. Credit Card companies are not banks. The words are not synonymous. MasterCard and Visa don't hold your debt. Your bank does. MasterCard and Visa didn't ask anyone to sign a waiver.
Do some research. Get your facts checked. Yes, financial institutions are often criminal in lending practices. But they are not Credit Card Companies.
These chain banks will destroy our society if left un-checked. The history of animosity between the banking cartel and America at large goes back literally to the day in 1913, when the Federal Reserve was established. In fact, during the Depression, FDR ordered money printed outside the control of the Federal Reserve Bankin order to break their absolute monopoly. When Jimmy Carter managed to pass a consumer-friendly revision of the US Bankruptcy laws, Paul Volker (Federal Reserve Chairman) answered Carter with 15% "discount rates". The Chairman of the Fed is selected by the US President from a short list of applicants provided by the Banking industry themselves. Soon after Bush-W was appointed president, the jurisdiction of the "OCC" (Office of Comptroller of Currency) and therefore the Banking activities was removed from the consumer friendly House Committee on Commerce and Energy and redirected to the business advocating House Committee on Financial Services. During the past 8 years, perhaps hundreds of state-chartered Banks have been purchased outright by national giants and their license is switched to the OCC. Therefore, State Banking Laws have been ruled in-valid (by who else but the Federal Courts) in policing the nationally chartered banks.
According to Wikipedia.org:
"The OCC {Office of Comptroler of Currencies} was created in order to instill confidence in the National Banking system and protect consumers from misleading business practices."
However, in reality, since Bush-W took charge, the Director of the OCC has been a rubber-stamp of approval for the twisted and greed-mongering actions of the chain banks. In the clear light of day, the Director of the OCC has existed to protect the banks from regulation.
Part of the economic problems the USA faces is the direct result of the chain-banks using diminished credit scores to raise interest. After enough years of this practice, the average American's credit score had declined by 20%. Now, no one can afford to buy anything (at 32.99% interest) and people wonder why the GNP is flat?
Bank only at State chartered banks. If they get bought, move your money back to another. Email your friends. This situation is VERY serious.
Let's see.....borrow $12,000, pay back $15,000, 8 years later, still owing $11,200....that means $14,200 paid in interest. These lending banks are PIGS IN THE PIGGYIST SENSE. But this just didn't start yesterday; it's been going on unchecked at least eight years as near as I can tell. Hasn't anyone else noticed? Of course, it gets worse every day, with no relief in sight. THESE LENDERS HAVE BEEN RUINING OUR ECONOMY FOR YEARS!!! Our credit card debt is staggering, but most of it interest on interest. The immense costs of the Mideast wars has not even hit us yet, but will add to every individual's burden sooner or later. Subprime mortgage fraud merely is the watershed. That's where all this usury lending started to spill over.
Holding hearings without the consumers'input really is pretty pointless. Naturally the lenders excluded them. Borrowers are the ones who know the truth...
The latest news of the Federal Reserve bailing out Bear Stearns just makes me sick.
Credit Cards can either be a useful tool or the road to financial ruin. It's really up to the consumer as to how much they put on the card.
The CC companies have analytical systems that look for people who don't or can't pay off their balance and/or have other credit problems. It is these people they put through the ringer to squeeze them for as much as they can. If you don't want to get squeezed then avoid getting into that situation.
Matt L.
When I got my first credit card, I was 23, had almost no credit history and no net worth. I owned a 12 year old Volvo and the cloths on my back. At the time, the statement would come in every month with a notice saying: "Payment Vacation" maning that I could completely skip any payment I wanted with no penalty.
Over two decades later, a one day past-due event will trigger a dramatic rise in interest. Now I have significant net worth and a much more robust credit history.
These are preditory tactics, many of which are technically illeagal (some are even criminal felonies). Lawful or not, there is no "police" because the Federal Courts have standing instructions to permit these abuses. I can show you the forged signature of U.S. Supreme Court justice Anton Skalia. Not forged by a credit card holder (borrower), but by a high-powered BofA lawyer and not to gain any practical advantage in the courts. He already had that advantage. It was done merely to illustrate to his opponent how far he was above the law.
Leave it to our Democrats to allow the Republicans to still control the floor. This isnt on national media at all, so most people wont hear of it. If the Democrats would have stood their ground and not allowed the waiver, it would have gone national. But, since most Democrats are just as in bed with corporations as the republicans, this was going to happen no matter what. Pelosi and Reid should both be run out of town, and replacements that are not bound by corporate America should be installed at leaders in congress. Then they can weed out all the rest.
The problem is finding anyone who isnt a corporate puppet in DC.
This is an obvious failure of government and it is the kind of failure from which revolutions are spawnedwas not one of the calls of the founding fathers of this nation "taxation without representation"! Tyrants such as Saddam Hussein are irrelevant when the US itself suffers from tyranny in the most horrid forms imaginablethe president of this nation has openly condoned torture and still the American people sit like slugs on rotten wood. (rotten wood is what has become of their homes, as well as the the spirit of freedom itself)
Credit institutions are one of the critical factors directly responsible for the meltdown of the US economy. Failure from government to set limits on what credit institutions have the right to take in terms of fees, the cost of the credit services (your yearly fee for having a card), in terms of the interest rates they takeapparently credit card institutions are viewed by government as being part of the banking system. Thus instead of electronic money being the perfect environment for achieving a system where the interest rate on savings is equal to the interest rate on borrowing (what a true market dictates) we see rather a system that is like the loansharking business the mafia has run since at least Shakespeare penned the merchant of Venicebecause today we are literally run by the Shylocks of America.
The most obvious consequence of the corrupt and criminal behavior of the credit institutions is the present threat they pose to national and global securitybecause Credit Institutions have been allowed to finance their risk by stealing the entire savings of the American people (American households have zero savings on average and the acclaimed "mystery" to so-called economists is why?). An obvious problem here is that Homeland Security is not looking for "terrorists" but rather a "stereotype" of what constitutes a terrorist. When the greatest threat to Americans, to their freedom and security is derived not from terrorists per se, but rather from the now common practices of a thoroughly corrupt business worldwhose activities remain unregulated means a real form of terrorism are precisely these credit institutions and the fact that Mr. Weatherspoon wasn't even heard by Congress shows another side of terrorismnamely the failure of government to represent the people. (true enough some of these "stereotype terrorists" are indeed dangerous, it is unfortunately impossible to know which of them are since none of them will ever be tried in a court of law under the founding principles of this nation because a terrorist sits in the White House, while cowards inhabit the Congress)
Remember the 2nd Amendment and evaluate clearly why this amendment was incorporated into the constitution--because that Amendment, the concept of creating a militia for the people and the Declaration of Independence along with the meaning and significance of the Bill of Rights are what each and every American must avail themselves to. Change does not occur through speeches but 300 million armed Americans with their guns pointed at the White House and at failing government will awaken the government to their failed duties as representativeslegislation must be created that forces the corporate structure to bow before the rights of the individual and not the individual to the corporation.
Submitted by Alessandro Machi (not verified) on Sun Mar. 16, 2008 10:44 AM PDT.
ALL Interest rate charges are taxes.
Interest rate charges need to be capped on all credit card bills. Once a certain percentage is paid back in the form of interest payments, the rest of the debt is payable interest free.
IN the case of Marvin Weatherspoon, once he paid back 50% in interest versus what he had borrowed, he would have been allowed to pay back the remaining debt, interest free. This method minimizes the issue of what the actual interest rate is since at the end of the day, everybody pays the same amount back in interest.
With a 50% interest rate cap, Mr. Weatherspoon would owe around 3,000 dollars, not 11,000. It's the banks that have created a debtor nation, not the consumer. George Bush's stimulus plan is an insult when right above we see how a man has been robbed of 8,000 dollars.
George Bush jr. believes that the way to fix the economy is to spend spend spend. No, the way to fix the economy is to lighten the debt load caused by unfair interest rate charges.
Interest rate charges are a TAX.
http:www.credit-card-cap.com
http:www.credit-protector.com
This cockroaches are ruining and destroying our great county:
The banking and credit card industry
The insurance industry
The health industry
-The pharm. and drug industry
The food industry
The oil industry
The big tobacco industry
The alcohol industry
The communications industry
The media industry
To top it off we also have against us all:
- The Federal Reserve Bank
- Internal Revenue Service
- I.C.E.
- Federal Drug Administration
This and other scums (both private and goverment) are screwing everybody each and every single day. And all thanks to BIG GOVERMENT.
WE ARE BEING ENSLAVED AND TERRORIZED BY ALL OF THEM AND THERE IS NO END IN SIGHT
Of course the consumers (the victims of the credit card banks) weren't allowed to testify. They have no place in a government of business, by business, and for business. Mr. Weatherspoon is just doing his patriotic duty by adding to the bank's profitability.
I had a bank loan my parents took out for my college costs. When I consolidated all my student loans, the bank loan was omitted, as Sallie Mae won't handle bank loans.
Long story short, my loan went to collections. I was berated by the loan officer, hung up on him, they used my check to get my account number and took over 10K on a 2K loan. I was 22. At 32, I still shake thinking about it. They stole from me, and the Atty General of KS said that since only 2 people had made complaints against the Cadle Company, he couldn't do anything.
Submitted by rick (not verified) on Mon Mar. 17, 2008 7:31 AM PDT.
How many banks and investment groups do we need to bail out until we can bail out our citizens?
I wonder how many of the consumers THE DAY OF THE HEARINGS received MORE credit card offers from the SAME creditors who prevented them from testifying!
Hel, my oldest daughter has been receiving card offers since she was 7, just because I was online looking for colleges for her!
Submitted by JLP @ AllFinancialMatters (not verified) on Mon Mar. 17, 2008 9:37 AM PDT.
I find this story hard to believe. This guy must have been paying only the minimum balance due. We all know that if you only pay the minimum amount due, you'll NEVER pay off the card.
I don't think we got the whole story.
Submitted by Zack (not verified) on Mon Mar. 17, 2008 10:48 AM PDT.
We've been under the yoke of bankers since they tricked Woodrow Wilson into creating the Federal Reserve, which permitted the Rothschilds to gain the key element of control over our economy and our personal lives.
In other words, the powerful international bankers are just slave-masters. The Founding Fathers rejected them and we should too.
Time for credit card companies to stop with the high interest and see what we really owe them.
I have been asking my banks to lower and I am going to ask them again.We all get tossed out of jobs due to Globalization How do you plan for that ? I was afraid of computer thief's stealing money for years. Those guys at Bear Sterns need to go to jail and give that money back to shareholders who were unaware.
At the very least, we can make a point of posting bad reviews on as many bank and credit card review sites as possible. I did this with B of A (entitled: Organized Crime)when it happened to me and got thanks from those who read it and used the info to make a decision.
Ron Paul's still a presidential candidate, btw.
Posted by: Patriot
Yes,and if you believe in Dr. Paul's logic all this is perfectly wonderful,for the market will run itself without any regulation. As we see, with little to no regulation as we now have,that is bullshit. Without extreme regulation and usury rules and laws the greed factor takes over and you have what we have today,criminal financial anarchy by the banks and credit card companies.Corporations have had undue and overpowering influence over our lawmakers for far too long. It's time for that to change.
This guy is an idiot.
He obviously does not know how credit works (which is true of most Americans).
I am a loan counselor at a major bank and I am just shocked day in and day out how little people know about personal finances.
Banks are in this to make money why is everyone shocked when they make money?
When it comes to consolidating debt payoff more than just the interest and to be smart get a personal loan from a Credit Union...its not rocket science folks.
This is a red herring. Insurance companies wrongly raise rates based on a bogus undisclosed "proprietary" credit based homeowner's insurance score. I wrote my senator (Obama) and his staff blew it off. My homeowners insurance rates went up after I got a loan to help pay for my son's college. This is more of an outrage than the credit card assessments.
Submitted by kim smith (not verified) on Mon Mar. 17, 2008 6:00 PM PDT.
This illegal war and our support for Nazi Israel has bankrupted our country, both; economically and morally. The Invasion of over 20+ million over our southern borders has also had a devastating effect on our economy. The resulting crime wave, drugs, and the diseases these invaders bring with them harms every one. These are predictable causes of the record foreclosures and predatory Nazi Zionist banking practices that have resulted in people living in tent cities like the slums of Rio De Jenaro. These "banks" give credit to all these illegal aliens in full knowledge, none will repay. The banks pass these losses to Amerikan consumers who have something to lose. Bank Of Amerika is the worst in this practice. To begin to get even: I suggest borrowing as much as you can from Bank Of Amerika and immediately defaulting. Once we help put them under: just ask one question: "Who's next"? The ZioNazi banks are the ones who really run the country. That: is where to start a real REVOLUTION. We are already hurting; why not pass it around and help the ruling class go bust too?!
Since Robert McNamara first came to Washington as a "whiz kid," and turned the US into a global armaments dealer, we've been hearing how important it is to let "the experts" deal with our nation's complicated issues.
Forty-eight years later, those "experts" on the military, the economy, education, healthcare, transportation, disaster recovery, energy policy, the environment, and other "complicated" matters have left us nearly bankrupt in all senses of that term.
What we DON'T need, Steve, is another suggestion that before we can act or speak we ourselves must become "experts".
Whether the credit card companies are screwing consumers directly or are only shilling for the banks is of little moment to the persons being screwed.
The point, surely, is that consumer protections are close to non-existent after decades of increasing corporate "rights" over individual citizen rights.
Submitted by Deborah (not verified) on Tue Mar. 18, 2008 1:50 AM PDT.
I an so sick of them we are dropping them. we have been with them for over 10 years. It only took once with a credit card to learn with them. We had to hire a lawyer to get out of it. What a mess! They continue to jerk us around on our account also! They will pay something then pull it back up a week later. I think we went minus for a couple of hours on a pending amount that had not turned in their paper work. It was an amount that had a tip attached to it. they paid the amount without the tip. but cleared that amount. A week later because I was 10 short for a couple of hours they applied the tip a week back and charged me 35 dollars. Said it is a new policy. from now on if u just go minus for a couple of hours even though u have money in the bank before 4 they still pop u. They are constantly changing the numbers. They clear stuff & then pull it back up to their liking. They are thieves & liars!
Kim Smith:
Sounds to me that you are the Nazi.
BTW: Do a 15-minute web surf of the 5 biggest bank's senior management and see if you find one Jewish name. BofA turns out to be the worst (as you say) but they are also among the most WASPie. Even the schools these bank-execs attend are light on minorities and light on Jews and its been that way for about a century. Your comments about Israel are simply ignorant. Add up what the USA spends on the United Nations, Pakistan, Egypt, Jordan, plus throw in an expense for protecting Europe, Japan So. Korea and Taiwan--and Israel's cost is chump-change. Besides, at this point, Israel has a budget surplus and does not need further financial assistance.
Ron Paul, is for MORE deregulation! Actually so is Obama, check out his three chief economic advisers! (Ref: The Nation, "Subprime Obama" by Hayes)Please, Clinton is NO better! Edwards would have done something, but it's too late now!
The ONLY Party, that fully supports Campaign Financing, takes no Corporate Money, and is for MORE Regulations of Corporations, restoring our Cunsumer Protection Laws, is the Green Party!! & ALL 100 of their candidates, including 4 for President!!
There is NO difference beween the Dems. and Repugs. their both Totally indebted to their Corporate/Special Interest Masters!
Please, Obama Manic maniacs, don't start! He Voted against capping Credit Card Interest rates at 30%!!Go to the article cited above, or google his economic advisers, Goolsbee, David Cutler, and best of all Jeffery Liebman, who has a plan to Privatize Social Security, and fund his Private Retirement Accts. by cutting benefits 40%!!
I had a bank account at U.S. Bank. They made me open up an overdraft account due to bad credit. Then I found out that they were charging me $7 to transfer funds. I then decided I would keep my overdraft account at $0. Everything was fine until a couple months later when I changed my address from a p.o. box to a physical address. I called the 1-800 number to notify them of the address change. I received all sorts of marketing material to the new address, but no bank statment. I'm a musician and on the road at some points for over a year. So while I was on the road I didn't know I wasn't getting my bank statments to my house, but the bank was charging me for a return statement in the amount of $7 a pop. This overdrafted my overdraft account, if you can believe that. My overdraft account got up to -$700 without me knowing . The only reason I found out was because they started taking money out of my regular account to pay off the overdraft account which caused my main account to go negative. Nobody would even consider helping me, and I spent days on the phone trying to correct this. I basically told them to send me to collections because I wan't paying. Now I can't even open an account at any bank. Am I the only one this doesn't make sense to?
Combine an unregulated, dishonest credit card industry, with for 8 years was a Repbulican backed GOP, and president and this is what you get. President Bush, pushed by the credit card industry, backed changing the bankruptcy laws giving conumers who fall for the bait and switch tactics of scumbages like Chase, Bank of America, etc little chance to escape their debts. It is a vicious circle which they hope you get into. Putting reasonable caps on credit cards is a good start. As well as mandating a standard for billing due date cycles would elminate the "we didn't receive your payment on time so your rate is now 29%" tricks.
HOW LONG WILL YOU BECOME ENSLAVED MY THE CREDIT INDUSTRY ???????????
PAY CASH......... TELL THE CREDIT INDUSTRY TO GO TO HELL.
DON'T BUY WHAT YOU CAN"T AFFORD..........
IT'S SIMPLE....... I DID IT OVER 15 YEARS AGO.........
BE A FREE PERSON
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Submitted by Credit Cards (not verified) on Mon Jun. 9, 2008 5:28 PM PDT.
Was there any substance to this article at all? I don't believe it was very useful.
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Submitted by 不動産 (not verified) on Wed Sep. 3, 2008 1:23 AM PDT.
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