The Ultimate Vampire Resource and Directory

From the Wa Times, w/ commentary by yours truely.



"When credit cards were introduced about 50 years ago, issuers practiced a one-size-fits-all approach of charging an annual fee and roughly the same interest rate of about 18 percent to everyone. As the industry became more deregulated in the 1980s, around the time that credit scores (Read, DEBT Scores) were introduced, issuers (Read, Gov. Sanctioned Loan Sharks) were able to separate the risky from the not-so-risky borrower and tailor the terms of card contracts.



The money they made from customers who did not pay their bills in full each month became an important revenue source. (That's why they gave cards to everyone, Feed me Seymour!) The industry makes $15 billion annually from penalty fees, (And without even breaking a knee cap!) and one-fifth of consumers carrying credit card debt pay an interest rate above 20 percent, according to figures cited by the White House and compiled from the Government Accountability Office and the Federal Reserve.



In December, the Fed banned certain unfair and deceptive practices. But those do not go into effect until July 2010.



The legislation passed today, which goes farther than the Fed's new rules, would become effective nine months after signing. "



Hey, cool, they will still get another $15 billion again this year!!!

Woot! Party at their place! lmao



And we wonder why we are in debt as a people? as a country? Not me, I study, pay attention, and stay off their grid if I can... You would be wise to do the same.



Boycott stupidity, Boycott Greedy Corporations, Banks and their subsidiaries... Take control of your paycheck! Wouldn't you like to see something OTHER than ATM receipts? I know I sure would...

Laz