Today the president is going to take on the credit card companies for some of the more outrageous behaviors they have engaged in to turn a profit at the taxpayers expense. With our money in their pockets, they are still refusing to ease credit and when they do, they are raping us with higher interest rates, phoney fees and any other abuses they feel they can get away with.
Watch this and see if America don't need to wake up and force congress to stop banks and credit card companies from robbing consumers. There is current legislation being proposed by New York Congresswoman Carolyn Maloney, but we think more needs to be done. Somebody has to stop these bastards and we are going to do everything we can to help. Please share this link with others.
However, as much as we would like to slam the credit card companies and the banks for what has been going on for the last ten years, we must include congress as a willing coconspirator. They had to be aware that these thieves were looking down the road when they started their advertising blitz to lure consumers into their preplanned web of slavery. Congress knew the credit card companies were using every conceivable method to hook the unsuspecting college student into the dark world of debt like a drug dealer hanging around an elementary school. Long before the average American even has a chance to get out into the world and start their careers and families, they have been laden down with loans and monthly financial obligations that generally consume the lion’s share of their incomes.
It was congress too, that failed to force credit companies and the banks to adhere to fair business practices by giving the most egregious perpetrators a mere slap on the wrist whenever they were compelled to address the issue. When consumer advocacy groups complained of the mountains of tiny printed documents mailed monthly to cardholders changing the terms of previous agreements; always to the lender’s advantage, they did nothing.
Sure, there are those who simply went out and foolishly got themselves over their heads just like the ones that bought homes they couldn’t afford, but many if not most are just victims of outright scams. The credit card companies hire the best lawyers they can find to draft contracts that not even legal scholars could comprehend. They have legions of psychologist and marketing experts to determine in advance that the vast majority of consumers will sign off on most documents to keep their accounts active. But of course, that is if the consumer is even given a fair chance to opt out in the first place.
Now the credit companies are raising rates and fees on even their best customers that have made their payments consistently on time. This on the surface would seem like a stupid idea, but greed coupled with arrogance knows no bounds. We are well aware that this scum will stoop to any low to balance their losses, but when they start doing it with our own taxpayer bailout money, we have to fight back.
We are wondering what would happen if a majority of Americans just decided to revolt tea party style by not to paying these S.O.Bs a damn thing. We think Americans should just say to hell with the credit-reporting agency’s fake-ass FICO score. What if we decided to strike at the very heart of the very entities that have ripped us off for years by just saying no more? Hell, their scummy collection agency flunkies can’t call us all forever.
And this was penned by someone that only has one credit card; we can only imagine what those who are in real debt must be feeling, these days.