Thank Obama. Expect a year more of straight out mayhem before this takes effect. I talked to one agent and she stated we are doing this to protect ourselves.
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I know that is why i dont use credit cards .... Obama.... man never knew of a bigger no body that is the biggest some bodyComment -
Obama is Jesus Christ....Just wait a couple of years
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We need to demand they stop passing any more laws. Any knew law they pass is just another chance for the rich ****s to screw the public.bird bird da bird's da wordComment -
In Theory a law like this helps the public but in reality it fails. I have been on the receiving end of this and luckily was resourceful enough to stop it.Originally posted by reno coolComment -
Yes it's all Obama's fault that the Glass Steegal act (which came into effect after the Great Depression) was repealed allowing for the combination of Banks, Brokerages, and Insurance companies and the whole largely unregulated credit card industry...All Obama's fault right...Get a ****ing clue...Bank of America and Citibank have reported HUGE losses last quarter...They ****ed themselves up by leveraging to the hilt after AIG stopped insuring everyone's bundles of shit debt..car loans, mortages, credit cards, school loans you name it...And guess what...the shit still hasn't hit the fan yet...Just wait until the commercial real estate notes start coming due in mid 2010...Real financial **** fest 2.0...Banks are squeezing consumers because they have NOWHERE ELSE to go...Ask yourself...Where are these banks CitiGroup, Bank of America, etc going to get the money to cover toxic assets they still have on the books and are going to come due...Yup you guessed it...You mr John Q. Credit Card user...they have no other outlet and they are DESPERATE....Comment -
I'm not blaming anyone (most likely every politician's fault) however I can point to this recent legislation being responsible for the backlash by credit card companies. If you want to cite the "Glass Steegal Act" ... more power to you.Comment -
I shredded all my credit cards several years ago, it's cash or nothing for me.
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Thanks Obama !!!Comment -
If anything, the new laws are weak so how do you blame anyone else for what the credit card companies do at this point. They're scumbags.Originally posted by InTheHole
I'd say they're legalized loan sharks, but that would be giving my loan shark a bad name.
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Originally posted by ShortstopI shredded all my credit cards several years ago, it's cash or nothing for me.
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Yea...the credit card companies are out of control lately.
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what are you guys talking about? Credit cards are great. What do you guys rent Hummers with cash?blog '09-'10: 37-16: +$31,900
mlb 2010; 16-12: +$4,540
gellyhoops 2010: 10-6 +$3,150
overall: 63-34 +$40,290Comment -
You can't expect a government to insure your deposits (up to a certain limit ), bail out banks (when in trouble) and still not have a stricter regulation. Yes, there's a higher price to it but if you can't afford it, don't buy it. Simple.Comment -
The default rates on credit cards is rising month over month year over year. Obama is overseeing the decline and bankruptcy of our country. For 20 years people spent more than they made, which pulled forward demand. It was a bad joke, loose money and credit ends in disaster. Consumers have hit the wall. The day of reckoning is coming..............Comment
