Quote:
Originally Posted by aceventura3
You know what would have a real impact? Doing something like saying to financial institution taking federal money who issue credit cards to discontinue the practice of raising rates on cardholders during this crisis. For example I have a card that I have had for about 13 years through a bank that recieved TARP money. The APR on the card was 11.9% and they raised it to 24.9% about a month ago. I don't give a crap about what the CEO makes, but I do care about the fact that they want to dig into my pocket as a consumer and as a tax payer.
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This is extremely accurate and true. I am not a person who believes CEOs deserve great amounts of money when they lay people off or take tax revenue/abatements to operate.
But, the real focus right now should be on those banks who got TARP monies and are raising their Credit Card rates. My Chase went from 11.9 to 22.9 in one month. Minimum payments went up from $10 to $25. Another card from an RBS subsidiary bank went from 9.9% to 25% with a raise in minimum payment from $25 to $75.
Now, if I am having problems paying my credit card off to begin with due to this economy, how the Hell am I going to pay those increases? Let alone the interest on items I bought thinking I was buying at 9.9% now I'm paying 1/4 of the price in interest?
Let's see Obama do something about that, not freaking lip service to try to appease the people, while not truly changing anything.
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Quote:
Originally Posted by aceventura3
Does Obama really believe his words and empty gesture would have an impact on actual executive compensation, or is he using words and an empty gesture to sucker people?
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I truly believe it is the latter.