Monday, February 22, 2010

Careful, 'Cause Certain Criminally Corrupt Credit Card Companies Could Crucially Cripple Country

Quotes from Huffington Post
The credit card reforms enacted by Congress and signed by the president last year are set to take effect on Monday. Unsurprisingly, credit card issuers have already found several ways to get around the reforms.
Harvard professor Elizabeth Warren, chairwoman of the bailout oversight panel, said on Thursday that the shortcomings of the credit card reforms show the need for an independent agency that protects consumers from the financial industry.
"[The Credit Card Accountability, Responsibility, and Disclosure Act] is a good first step but it isn't enough alone," said Warren on a conference call with reporters hosted by the U.S. Public Interest Research Group. "The credit card industry and the entire consumer credit industry is broken. We need an agency, a cop on the beat that is flexible and responsive."
http://www.huffingtonpost.com/2010/02/18/elizabeth-warren-shortcom_n_467295.html

Even before the reforms were to come into effect those bastards at the Credit Card companies had already figured out ways to defeat it. Elizabeth Warren was on Bill Maher on Friday night HBO, and she said of ten things in the Reform Act, the companies had gotten around eight of them already. The problem is not the Government, it is these thieves who pay the lobbyists to dumb down the Administrations...both of them, Reps and Dems. The only thing we can do right now is give the current office-holders the necessary screams and shouts that may encourage them to change the laws. It is our job to call and write them constantly, keep the blogs policing them, just to balance the noise the lobbyists are making...if we make some noise of our own then we can overcome the lobbying power of these Banking Gangsters ...thieves ...and take back some control. We must keep riding this Administration to reduce lobbyist numbers...eventually  to zero. We don't need less Government yet...just less lobbyists.

25 comments:

  1. Incidentally...I will mail you my home addy so I can have a signed copy of your book.

    Congrats on being published old bean!!!! The Booker awaits!!

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  2. oops...me again...er..what's your mail addy?

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  3. Frankly, I's like to see Elizabeth Earren in Geithner's job.

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  4. Hey Dinners, yes they are a bunch of "C's".
    You can email me
    davy.com@verizon.net and I will give you mine and get your address too

    Hey TomCat, yes I would also, I think that she is well suited for the job.

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  5. Hey TomCat, email me with your address at
    davy.com@verizon.net so I can send you a copy of my book when it is published in a few weeks, it will go to the printers in abp about two weeks,
    --P>S anyone who reads this can also email me your address so I can send you a copy of the book you will love it...really

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  6. One of the new credit card regulations will require the banks to spell out the payment schedule clearly to their customers -- i.e. "if you owe us $10,000 and you make just minimum payments each month, it will take you 14 years to pay your complete balance."

    It seems like common sense to me that banks should be forthcoming with this information, but I think that's one of the laws that Wall Street lobbyists are pissed about.

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  7. Talk about outperforming in the field of alliteration. Whew!

    When you're dealing with the financial industry/Wall Street, you're aiming at a constantly moving target. Watching, regulating and zapping their worst outrages is like fighting crime: you can never stamp it out, so the next best thing is to clamp down hard enough to keep it at a reasonably low level.

    In recent years, especially thanks to George W. Bush and cronies, government switched to taking the clamps off and throwing them away, with predictable results.

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  8. You're published!! AWESOME!!!! I want one!! I'm at:

    beekeepersapprentice@comcast.net

    I'll pay for mine!!! :) That's wonderful! Congrats!!!

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  9. Tom Harper this is huge, hopefully people will now understand credit better and use it more sensibly

    SW, yes it is a moving target and we have no way of stopping it. Folks do not understand that, so they are angry with the Pres when he has a hard time clamping down too hard on wall street...he understands that we need their business more than they need us...they can just move their main operations to foreign soil and foreign markets.

    Hi Bee, I am self publishing because the traditional publishers take most of the profits, leaving you with 5 to 7% of the royalties, with the internet self publishing is now a better option that will be more profitable. I will let you know when it is done. Thanks...

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  10. I want your book, also! What's it about!?!

    As far as the credit card companies, they will find ways to get their money. Hubby and I always pay off our one credit card monthly but we're keeping an eye out for the possible upcoming evil 'hidden' fees.

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  11. What's the title of your book, T?

    S

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  12. Karen, that is the best thing to do...pay it off every month, so you get no fees...so far, that's what I do as well.

    The book, it is a scathing critique of Religion and Bush's Presidency.
    These are the two things that have gotten us to this point of desperation.

    Titled Shock and Awe on America.

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  13. Congrats, T! My E addy is on the side bar at my place. Definitely want a copy of your book.

    :)

    Now about the credit card companies.

    I can't say what I really think because you'd probably ban me.

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  14. Oooh, sounds like a fun book, right up my alley! Can't wait to read it!

    Oh, and yeah, about those credit card companies...can I say motherfuckers here? Is that language too strong?

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  15. Snide remarks from free-market types that bask in its glory being the rule I guess they might say something to the effect that if someone is going to spend their way to serfdom the government has no business getting in the way.

    Plus the credit card companies make it look so fun and easy living the good life with their little pieces of plastic. But like Karen said, they will get their money and if you don't watch out you will owe them just the interest for your fun for decades.

    What a wonderful country.

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  16. Suzan, hi...The title is Shock and Awe on America, you will enjoy it, I guarantee

    Hill, only adults like politics...like us, so you can say anything you want to, it is all welcome...as are you

    Bee, you always make me laugh!

    Beach Bum, to those people, we should take away all the services that Government provides...like Fire, police, the Post Office, schools and see if they still bask after that...
    It's true, our fun gives them interest...so they can have fun with.
    Like Bee said, they are Motherfuckers...

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  17. You hit it right on the head, Teeluck. It's the lobbyists and the politicians. They're the ones who are driving the economy into the ditch.

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  18. Teeluck, let me add congratulations on your book. Good for you!

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  19. Way to go Tee-MAN!! I think, perhaps mistakenly, that you are the first in our general blog circle to be published. How absolutely cool!! Congratulations!

    madmikes1@gmail.com

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  20. Will, I hope with what I saw on the conference today, we will begin to push back at the lobbyists, the Republicans and all the corrupt Industries that are killing us

    SW, thank you very much, I can't wait to send you a copy

    Mike, thank you bro, you got an autographed copy coming

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  21. I can't believe I've just found your blog! Why haven't we been introduced sooner?!

    And congratulations on your book. I'm putting you on my blogroll.

    And yes, my blognym is "Shaw Kenawe" which I made up during the Bush Admin.'s "Shock and Awe" incursion into Iraq.

    Glad to have found you!

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  22. Shaw Kenawe...I Love It! I simply love it...that is so wonderful. Hello to you and welcome, I hope you have a wonderful time here and please feel free to look around, I would be so happy if you enjoyed the gems that have been posted here. Of course I will also make it a point to visit your blog often as your blog name says everything... and it is perfect.

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  23. Congrats on the book Teeluck. I'll look for it and purchase a few for friends, since I know it will be an interesting read just by the things you have chosen to write about.

    As far as the cc reforms, I got my AMEX bill today and everything is all spelled out nicely, as far as here is how long and this is how much you would pay. I pay the balance monthly, so I don't worry about the finance charges, but what about those people that can only pay minimum. It is basically legal loan sharking, the fees they are starting to charge. Even sadder is they are getting away with it. Currently there are 8 banking lobbyists for each member of congress. That needs to be done away with.

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  24. Shaw... PS Thanks for the congrats and for putting me on your blog... that is a great honor for me.

    Jess...Hi and welcome, thank you for the congrats and compliments, I look forward to sending all my friends an autographed copy, I hope you will like it.
    It is such a shame that we have these low standards in regulating our Financial Institutions...I think Capitalism is a good thing but apparently there is some truth to what they say about too much of a good thing not being good...
    I coined the term "Disciplined Capitalism" two years ago while writing the book, I think it is the only way to go and I am so happy the Pres is trying to introduce some Discipline in the Industry... interest rates have reached 79.9% already.

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