mohead

Progressive Media, Music, Art and Events Blog Near near Salem, Oregon

Credit Card Banking Industry Goes back on their Word

with 2 comments

The 800 Billion dollar free Goverment loan is not working and guess who’s taking us to the bank?

Here’s proof:
Credit card industry may cut $2 trillion of lines: analyst – Yahoo News

In fact interest rates are at a all time low for banks, and an all time high for consumers, nevertheless they are making bigger and bigger profits. I smell something fishy here. Very fishy. Credit card companies are MAKING MORE MONEY THAN THEY EVER HAVE.

Can you say, “Congressional Oversight Committee?”

Perhaps this is a 800 billion dollar a last minut scam by the lame duck Bush administration to favor it’s Republican favored partners?

Bush should write a book,” How to go down in flames.”

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Written by gettheconcept

December 1, 2008 at 4:39 pm

2 Responses

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  1. Let them cut credit lines. They could care less about their customers anyways. Their goal is profit, plain and simple. Credit card companies are the largest malicious example of corporate greed. Let them burn.
    (Starting with Chase Bank)

    Bob A

    January 24, 2009 at 2:01 am

  2. Thanks Bob. I agree.

    Indentured servants had it better during slavery. At least they could pay off their debts and become free:

    Too many people these days cannot pay off their debts after missing one payment. This has become a nation of corporate opportunists. Their lobby has allowed them to see your all your credit cards. If you go on vacation or travel, miss a payment that’s all it takes. ALL your cards go up in rate.

    How can banks remain credible and expect people to pay them off with bailouts, when they are asking for handouts themselves? Its like feeding foxes chickens so they won’t go in the coop. It makes absolutely no sense.

    Isn’t it the banks fault to have marketed the the Sub-Prime interest pyramid schemes? Of course it is. They knew what the projected outcomes would be. Increased credit card debt it where the money is.

    Most of these banks are owned by multi-nationals. The have no national pride. No no civic allegiance.

    The credit card debts rate versus the money rate they are getting from the Feds, (1% versus their cost versus -12 to 28% what the get on credit cards) it’s more than a crime. This is means war!

    Problem is the bank and credit card industry is subsidizing politicians, with a lobby that is second only the pharmaceutical corporations and the oil lobby. Of course that all another story.

    gettheconcept

    January 24, 2009 at 6:03 am


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