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FINANCIAL GRAVE DIGGERS:
VISA &
MASTERCARD
COOPERATING WITH PREDATORY LENDERS |
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April 18,
2003: The Economy stinks. Some blame the Administration, some
blame the Federal Reserve, and others blame the war.
A greater
portion of the problem can be placed solidly in the realm of
the Credit/Charge Card Cartel. They've not only sold the
consumer/card-holders on debt and taken extreme advantage of
them, but they've also shafted the merchants at the same time.
Revolving
debt continues to climb year by year, as do bankruptcies in
the U.S. Older folks are going deeper and deeper into debt,
while bankruptcies in the "over fifty" group rose from 180,000
in the year 2001 to more than450,000 in 2003. If that doesn't
give you a good indication of what is going on in our nation,
then you simply aren't paying attention, my friends.
We all
need to give this serious thought and realize what is
happening to us before it is too late. No longer can debtors
clear off all their debts through filing bankruptcy, as they
once could do. |
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ALWAYS BE
WARY
If your mailbox has
been filled on a daily basis with offers from banks that
issue Visa and MasterCard accounts, as mine has, even a
cursory examination should have revealed the
truth...that most of it is deceitful, misleading, even
lying, .
Read the small
pamphlets they send you, and you'll find that everyone
of them is filled with deliberate
misinformation couched in terms that make it difficult
for the unwary to understand just what they are getting
into. The use of fine print is almost an art and most
difficult to read, but it all is apparently sanctioned
or blessed by the two largest franchise operators,Visa
and MasterCard. It may not be illegal, but in the
opinions of many, it is unsavory.
They have a staff professional
Grave-diggers and they're digging your financial
grave.
It is managed by Morticians, and they're fully
prepared to bury you under a mountain of debt.
The bosses are autopsy experts, ready to use their
surgical skills to perform an amputation on your
savings and wages.
At one time they concentrated on the more affluent
members of society, but then they discovered that the
middle class was actually a more profitable target.
Still later they realized that the less affluent were an
even better target, and so they descended to the
level of the street thugs and began robbing the poor of
their meager weekly wages.
Never mind the chaueffer driven Mercedes or the
Cadillac limo with a bank logo that pulls up to the
curb, there's nothing but a bum in the backseat.
It's his instincts and actions that mark him, not the
clothes or the flashy diamond rings. We used to call
them the Suede Shoe boys (selling siding), but these
guys wear sharkskin shoes, and have wallets made of
rhinorcerous hide.
They mail offers to the low income earners,
the poorest among us, knowing full well they will
surely cause most of them financial agony with
higher interest rates, stiff late charges, over-limit
fees, etc. They split up families by burying them in
overwhelming debt. Capital One is certainly in
that category of Financial Grave Diggers.
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Copyright
© 2006 Howard's Views. All Rights
Reserved.
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Copyright
© 2006 Howard's Views. All Rights
Reserved.
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