We often hear about the role that the pharmaceutical industry, for-profit health care companies, and big banks have in influencing and corrupting elections and elected officials. But there is another group to add to this list: Debt Collectors. This is a billion dollar industry, and its political agenda goes far beyond the day-to-day regulation of collecting debts. The debt collection industry opposes any number of financial reforms as well as access to health care. Why? Predatory lending and huge health care bills keep people in debt. The more people that are in debt, in turn, the more profitable the industry.
In essence, debt collectors are the bottom-feeders that get rich digging and feeding on the garbage produced by our current system.
This broad political agenda was the reason the debt collectors trade group, Association of Credit and Collection Professionals or ACA, mobilized on behalf of Scott Brown. For 48 hours before the election, ACA did not just raise a little money for Brown. ACA members from all over the country stopped collecting debt and, instead, made free calls to voters is Massachusetts on behalf of Brown. Query whether those in-kind donations will ever be reported to the Federal Elections Committee.
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