Credit card rant gets results - Debtors Revolt Begins

[Joanne98]

Although, I do not relate to this woman's philosophical belief system... I CERTAINLY DO relate to her as a consumer. Most of us who have struggled with credit card debt and job losses know the frustrations of "climbing a greased pole". (A metaphor describing how, one can NEVER make it out of debt, no matter how they try.) The banks have been putting the screws to us for a long time. When I was a child, I would hear adults talking about LOAN SHARKS. I would watch TV stories of legs and arms being broken for non-payment by the so called LOAN SHARKS who charged exorbitant interest fees. I was glad to find out that this technique was illegal and our banking institutions could never resort to such tactics in order to coerce payment. As an adult, I learned there were legal procedures of torture that didn’t require physical bone breaking but were just as vexing. In modern day Capitalism, the torture is mental and longer lasting. Today’s banks use teaser loans to lure us in and once we are captured by their come-ons they pounce and raise the APR's so high, that there is no escape from debt. I salute this woman who didn't take it lying down! She sprung into action and threw a couple of punches back! thinkingblue.blogspot.com

PS: Corporations make their billions off our backs and then they use this money to screw us. WTF?

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Video at link>>>
http://www.dailykos.com/storyonly/2009/10/5/789828/-Credit-card-rant-gets-resultsDebtors-Revolt-Begins.-

[Dr.Phool]

1. As someone who used to know actual, real loan sharks,

I can say without doubt, that they behaved better than banks. They never changed the terms in mid-stream. They collected their money every week. If someone was a little short, they could make an interest only payment, and defer the rest.

And, I'm sure it happened somewhere, but I never knew of an actual leg or arm breaking. They were smart enough to realize, that if you busted a guy up, he couldn't go to work and pay the debt, which is what it was all about, anyway.

There might have been threats involved, but from some of the tactics I see employed by collections agencies on the news, there's no difference. Except a loan shark could get 10 years if caught. Ken Lewis gets a big bonus and a golden parachute.