Credit Card Bastards

Can you believe it? The rich folk screw up our economy by giving out ludicrously-high-risk loans (I'm simplifying, but you get the picture) and we, the common worker bee, get the shaft! Not only are our taxes paying for their greed, but now we get the double-shaft from the credit card companies. Two of my three credit card companies have jacked up the rates to ridiculous levels. 19.99% for one, 20.24% for the other! I've had these cards for decades, mostly because it supposedly looks good for credit scores. Screw that. I'm chopping them up and canceling the accounts. Fortunately I'm able to do so, what about the people who carry large amounts on their credit cards, and have no choice but to lube up their butt and go further into the hole with these interest rates? A bank could make some good money loaning money to people for the sole purpose of paying off credit cards. Friendly neighborhood bank could say "sure, we'll loan you $10,000 at 10%" and happy consumer could turn around and stick it right back to the credit card company! Happy consumer gets a halfway decent rate, credit card company gets counter-shafted. Everyone wins. Everyone, that is, who is not consumed with greed.

The government is, allegedly, trying to do something about it. Allegedly, there's a bill in Congress to prevent certain unsavory practices by credit card companies. The "universal default", for one. Heard of it? If you default on ANY loan, credit card, or just look funny at the mailman, the guilty credit card company can shoot you in the "default" interest category (30% is not uncommon)...even if you didn't default on their card! That's a kind of economic double-jeopardy if you ask me. Hopefully that bill passes in my lifetime.

I can only hope, that huge numbers of people will default on their credit cards, declare bankruptcy, whatever it takes to screw over the CC card companies. I'm tempted to buy a house with a credit card, default, declare bankruptcy, let the government (pardon me, become a communist and let my fellow taxpayers) bail me out and I can hide behind the gov'ments skirts in my fancy $1,000,000 mansion.

Join the fight! Either pay off and cancel that credit card, or default!