That does it: I'm never using plastic again

[The Man @ Lunch]

I haven't carried a balance on a credit card for several years. But now that I see just how crooked the industry has become, I don't plan to again unless there is some real reform.

...the credit card industry has stealthily adopted methods designed to maximize burdensome penalties and fees, while ratcheting up interest rates as high as 30 percent. Companies bombard unwary consumers with teaser packages that promise very low interest rates to start, while reserving for themselves the right to raise rates whenever they choose. The details are buried in deliberately arcane contracts that run 30 pages long and that even lawyers have trouble understanding.

Congressional investigations and studies by consumer advocates have exposed other unsavory practices. Some card companies apply penalty rates retroactively — to purchases that were made before the penalty was incurred or in some cases to debts that were even paid off. As one Congressional witness pointed out, the credit card industry is the only one allowed to increase the price of a product after it has been sold.

Under a provision known as “universal default,” a cardholder who pays a credit card company faithfully can still be hit with a high penalty interest rate for missing payments with another creditor. In another despicable tactic known as “double cycle billing,” a cardholder who pays $450 of a $500 balance is charged interest on the entire amount as opposed to the unpaid balance.

State usury laws would once have precluded many of these practices, but those have been preempted by federal regulations that are increasingly designed to make banks and credit card companies happy — rather than protect consumers.

Source

 

[Truthmatters]

This is what happens when you just trust corporations to do the right thing without good oversight.

I would be a libertarian if it were possible to actually trust these entities.

They exsist only to generate profit and will do ANYTHING to increase profits.

That means we have to police them and make them follow reasonable practices.

I really wish we did not have to but its just a fact.

 

[dilloduck]

This is what happens when you just trust corporations to do the right thing without good oversight.

I would be a libertarian if it were possible to actually trust these entities.

They exsist only to generate profit and will do ANYTHING to increase profits.

That means we have to police them and make them follow reasonable practices.

I really wish we did not have to but its just a fact.

Who told you it was smart to trust any media, government or corporation?

You need to go have a chat with them.

 

[mattskramer]

This is what happens when you just trust corporations to do the right thing without good oversight.

I would be a libertarian if it were possible to actually trust these entities.

They exsist only to generate profit and will do ANYTHING to increase profits.

That means we have to police them and make them follow reasonable practices.

I really wish we did not have to but its just a fact.

Practically all things should be considered in moderation. There is fraud, corruption and waste in government as there is in the private sector. You can see horror stories about public service shenanigans and government shenanigans. For some things, the private sector may be best. For other things, the public sector may need to assist.

 

[Truthmatters]

All things run by man will not be perfect.

Government,business anything will have flaws.

To expect perfection when man is concerned is foolhardy.

 

[Paulie]

The problem is that money and power corrupts people.

Sooner or later, everyone has a price.

You can't trust corps, you can't trust government to oversee the corps, and you can't trust media to tell us the truth about the government and the corps, especially since media is now confined to only a few huge corps.

So where does that leave average citizens?

Up shit's creek without a paddle, that's where.

Eventually we're all fucked. And when we finally are, it won't be the government's fault, or the corporations, or the media.

It will be OURS. The average citizens that allowed it all to happen from day 1. We had the power at one point to keep shit like this from happening. We instead chose to ignore it and pretend it wasn't that bad, and now we're paying the price.

RSR still thinks things are great, because the super-rich are making insane profits in the stock market, like somehow that's the be-all-end-all deciding factor of American economy.

I'm not saying it's too late...i think there's a small window of opportunity left to somehow fix this country, but people need to wake the fuck up...RIGHT NOW.

 

[Truthmatters]

Youre right, NOW is the time to get it right!

that is why a Dem is the only hope.

Not the perfect hope but the only one.

 

[The Man @ Lunch]

You can't trust corps, you can't trust government to oversee the corps, and you can't trust media to tell us the truth about the government and the corps, especially since media is now confined to only a few huge corps.

But you forgot one thing: we ARE the government. Make our voices heard on the Hill and then you'll really see reform.

 

[Truthmatters]

We should make it a puplic embrassment to note vote.

It was that way at one time.

I dont mean institute it.

 

[dilloduck]

The problem is that money and power corrupts people.

Sooner or later, everyone has a price.

You can't trust corps, you can't trust government to oversee the corps, and you can't trust media to tell us the truth about the government and the corps, especially since media is now confined to only a few huge corps.

So where does that leave average citizens?

Up shit's creek without a paddle, that's where.

Eventually we're all fucked. And when we finally are, it won't be the government's fault, or the corporations, or the media.

It will be OURS. The average citizens that allowed it all to happen from day 1. We had the power at one point to keep shit like this from happening. We instead chose to ignore it and pretend it wasn't that bad, and now we're paying the price.

RSR still thinks things are great, because the super-rich are making insane profits in the stock market, like somehow that's the be-all-end-all deciding factor of American economy.

I'm not saying it's too late...i think there's a small window of opportunity left to somehow fix this country, but people need to wake the fuck up...RIGHT NOW.

Wake up and do WHAT? Vote for some other party ? Hmmmmmm--which fox should we put in the hen house THIS time ?

 

[The Man @ Lunch]

Wake up and do WHAT? Vote for some other party ? Hmmmmmm--which fox should we put in the hen house THIS time ?

It doesn't matter which party is in charge if the people demand change loudly enough (and coherently enough).

 

[dilloduck]

It doesn't matter which party is in charge if the people demand change loudly enough (and coherently enough).

Any particular language these folks outta use ?

 

[The Man @ Lunch]

Any particular language these folks outta use ?

You seem to be all for the idea that they should just shut up and keep watching Idol while the corruption gets even worse.

 

[Paulie]

Well, here's the problem...

People ARE speaking up...but as soon as someone speaks out in a way that appears "partisan", someone from the other side of the aisle ridicules that person who had the balls to speak out to begin with.

There's no unity in this country. No matter what the issue is, it's ALWAYS a 50-50 split of public opinion.

The only time this country has been unified on one cause in the last 30 years was after 9/11.

Now, it's back to business and politics as usual.

Maybe instead of getting on someone's ass about WHY they're speaking up, protesting at the Capitol, lobbying congress to make SOME type of change (because we ALL want change, we just don't agree on what that change should be), we should just applaud the people who have the fucking balls to do that in the first place.

It's always been our duty as American citizens to keep an eye on government, and demand changes when necessary, and now when someone does that, like a Cindy Sheehan, they get made fun of and ridiculed as being "nuts", or "they're just using their position for 15 minutes of fame".

Who cares if you don't agree with WHY someone's speaking up and taking it to congress, and the streets...We should just be applauding people for even doing that to begin with.

 

[The Man @ Lunch]

Well, here's the problem...

People ARE speaking up...but as soon as someone speaks out in a way that appears "partisan", someone from the other side of the aisle ridicules that person who had the balls to speak out to begin with.

Just goes to show you that when someone engages in this kind of ad hominem attack, he's a dishonest fuck who should never be listened to again.

I just hope that more voters begin to tumble to that fact.

 

[Annie]

Well, here's the problem...

People ARE speaking up...but as soon as someone speaks out in a way that appears "partisan", someone from the other side of the aisle ridicules that person who had the balls to speak out to begin with.

There's no unity in this country. No matter what the issue is, it's ALWAYS a 50-50 split of public opinion.

The only time this country has been unified on one cause in the last 30 years was after 9/11.

Now, it's back to business and politics as usual.

Maybe instead of getting on someone's ass about WHY they're speaking up, protesting at the Capitol, lobbying congress to make SOME type of change (because we ALL want change, we just don't agree on what that change should be), we should just applaud the people who have the fucking balls to do that in the first place.

It's always been our duty as American citizens to keep an eye on government, and demand changes when necessary, and now when someone does that, like a Cindy Sheehan, they get made fun of and ridiculed as being "nuts", or "they're just using their position for 15 minutes of fame".

Who cares if you don't agree with WHY someone's speaking up and taking it to congress, and the streets...We should just be applauding people for even doing that to begin with.

Are you talking plastic or WOT? I'm confused.

 

[The Man @ Lunch]

Are you talking plastic or WOT? I'm confused.

It does tie in with plastic if you ask yourself the following:

Why are banks and card issuers being allowed to get away with such outrageous scams?

(Answer: because the electorate is either tuned out or afraid that the likes of RSR will smear them for speaking out.)

 

[manu1959]

they are a business...they charge what the buyer will pay.....

things cost what people are willing to pay....

don't like what it costs....don't buy it

 

[The Man @ Lunch]

they are a business...they charge what the buyer will pay.....

things cost what people are willing to pay....

don't like what it costs....don't buy it

Does that make it okay to defraud people who are willing to pay because they fall for your scam?

(That philosophy turns out not to be good for business, by the way...)

 

[Paulie]

I'm confused.

That doesn't surprise me, Kathianne.

Are you talking plastic or WOT?

I'm talking ANYTHING. You got beef about how credit card companies do business? Go lobby congress. You got beef about the "WOT"? Get a huge god damn group of people together and GO LOBBY CONGRESS. That's what America is REALLY about.

Just quit bitching about it on message boards, because in case you haven't noticed (and i don't mean YOU, i just mean in general), it's not helping the country any.