The stark reality of the bankruptcy bill is this...

[burythehatchet]

We exist to generate profits for MBNA. If we are not generating sufficient profit for the benefit of the bank, we will first get punished with a few $35 late fees and a bump up to 30% on the APR. If, by that time, we haven't learned our lesson, they will take away anything else you own, like a house, (they'll work it out with your mortgage company, in fact they already have). You best stiffen your spine at this point because now you're at the plate with 2 strikes on you, and the pitcher is loading up the ball with vaseline. After you've signed away all you had worked for, a tube is stuck in your cash flow, sort of like a tube in your vein (think The Matrix). That tube will suck out what they need to compensate the bank for having to deal with the likes of you. They're still pissed though because you're not as productive as you used to be. You're allowed to have a credit card again when (if) you get back on your feet. You're pre-approved. Or you just might see yourself as having failed to live up to the American dream and figure its not worth it anymore.

Nothing, nothing in my lifetime has ever been so deeply disturbing as this bill.

[Randi_Listener]

1. They don't give a fuck about us.

The rank and file cannot benefit from this shitty bill. We will all get horsefucked with tremendous credit percentages. You might as well go down to your local loan shark for better fucking rates. You keep the house but not your fucking knee caps.

[bearfan454]

12. Exactamundo n/t

[Orsino]

16. "They" includes creditors, certainly...

...but also the houses of Congress: anyone who voted for this evil legislation, and anyone who was wishy-washy in his/her opposition.

They are not of us. They are in the pay of the corporations who wrote this law.

[Eloriel]

2. Yeah, that about sums it up

from what I've read about it so far.

We're all screwed. BIG time. The new version of the Company Towns.

[ultraist]

3. Company towns or Bushvilles

Bushvilles named after the Hoovervilles during the Great Depression which were areas of cardboard houses; named Hoovervilles since Hoover did not care about the poor.

Notice the cardboard house


The Social Security Act was passed at the end of the Great Depression in 1935, followed by FDR's New Deal. It's all being dismantled now.

[Stephanie]

4. I am cancelling MBNA in honor of Biden

And I will notify both. Anyone else?

[depakid]

7. The trouble is with credit cards in general

Even if you get one through your alumni assocation- as I did- they can sell your account to MBNA (mine did). Even if you get an REI card- they too can sell your account to MBNA- they did. Assholes. I still shop there on occasion, but they lost a lot of business from me over that.

Before I dumped all but one card (that I only use to rent cars) I'd had MBNA twice get my accounts assigned to them- which pissed me off royally, because after an incident in 1988- where I cancelled one of their cards, I vowed never to deal with them again....

[burythehatchet]

14. I'm with you

I probably have a dozen cards. I use one and probably need to keep it for car rentals and stuff. The others are getting sliced and going in the trash. I believe this type of action in large numbers is practically our only form of protest.

[BeachBuckeye]

24. Yes!, count me in

Don't use it much anyway and it will be a good opportunity to make a point. Not that they care at all.

[LoganW]

5. I think it's more complex than this...

It's not all about money for the banks. They have some other agenda here, but I'm not sure what it is yet.

[ultraist]

6. It's all about ELITISM (ie Feudalism)

[NVMojo]

8. we are nothing more than wallets to these people...

[Randi_Listener]

9. They don't give 2 fucks about you or your fucking family.

[Kinkistyle]

10. Canceled all my credit cards but one.

Which I use strictly for emergencies. I have sworn to not use credit cards or withdraw money on credit. Let the usury companies reap what they sow.

[Randi_Listener]

11. Not all of us have the fucking luxury.

We need out goddamn credit cards for business use.

[SF Bay Area Dem]

13. I only use American Express...

... as it makes me pay off the entire bleeping balance every month. Credit cards have to be one of the greatest scams ever... I know it is hard but the best advice for all is not to use them. Get one if you must for rental cars etc... but other than that they (credit cards) are just not a good deal. They are for suckers and if carry a balance on those things they will treat you like a sucker. The conservative bankruptcy bill will hold you hostage to these banks.

[burythehatchet]

15. Personally, I try to never carry a balance

one of their little tricks is actually quite indicative. I had a balance one time, and I paid it off in the second month. Well it seems that even if you pay yor bill on time, if its in the second month then the interest is charged for the time before the payment in full is received. So the next bill bad a interest charge of like 37 cents. I told them stick it up their corporate ass.

[placton]

17. My friends - don't be mad at the credit card companies

One expects them to bribe Republicans, their heartless, soulless compadres.

No be mad that the traitor Dems (example: my Senator Stabenow) who voted for cloture (no filibuster) and then the bill - the most evil passed in my 6 decades in this country.

Even scumbag Lieberman voted against the bill - which the snake knew would pass once he voted to end debate.

This bill could have been defeated by a Dem filibuster, and they did not.

I will vote 3rd party in the Michigan Senate race next year - I will never support Stabenow again. We need to make these people pay.

By the way, this bill will earn me personally another $10,000 or so a year. That's about how much my small law practice loses when people go bankrupt on their fees. I have always figured that's OK, and advised many clients to seek out a bankruptcy atty and file - even if I lost a few bucks.

[burythehatchet]

19. I no longer expect Democrats to represent us

They pretend to until its their little pay-off then its a big fuck you

[placton]

20. true - can you imagine what the Founders

of our country would have said about that. That neither party will represent the interests of the majority of the people they represent.

[Vanje]

18. I expect more than a few debtors will resond by going "postal"...

...as they find they have fewer and fewer options.

Expect headlines like this :
Man shoots four in bank then turns gun on self.

[datasuspect]

21. look at the headlines

. . . .open season on judges?

seems like more and more people are becoming unhinged.

that's what happens when you have an immoral system that places profits over people.

wait until the alienation, frustration, and depersonalization reaches a boiling point - many, many people are NOT prepared to deal with insecurity of ANY kind, especially economic insecurity.

wait and see . . .

[burythehatchet]

22. and that is exactly what fascists want

chaos and mayhem, because then we need their authority and protection. Things are gonna get ugly real fast

[datasuspect]

23. it behooves them to keep up the abusiveness

divide and conquer . . .

the more things change, the more they stay the same.