Republicans Block Freeze on Credit Card Rates

[Satori]

well the mother f_ckers are just doing what they're paid to do

http://www.huffingtonpost.com/2009/11/18/gop-blocks-freeze-on-cred_n_362787.html

[Arraya]

Stuff like this doesn't even phase me anymore.  Actually, I kind of chuckle when I hear stuff like this.  I think it may be a defense to depression. 

[Bill Hicks]

Saves Biden from having to convince Obama to veto it.  After all, in the Senate he ALWAYS spead his cheeks wide for the CC companies, many of whom are located in his home state of Deleware.  

[AreWeThereYet]

Don't let this fool ya.  For 5 months those banks have been jacking rates and fees.  5 months.  Blocking the enactment of that freeze now is like closing the barn door after all the animals have escaped.
They got Dodd in their pocket.

I just got on offer from Chase..6 months free, then something like 13% but if you are one day late..29.99%.
That's damn usuary.

[urbanfarmer]

I know I should take that news in stride, but for some reason I want to go kick the wall a few times.

My only card jumped to over 30% when I was one day late, one time. Good thing I don't have much on it.

[Bill from Pennsylvania]

Having a cc in your pocket is akin to strapping a bomb on your leg; one false step, and it will fuck you up!

[Megadoom]

No, no, no, the reason the republicans blocked this bill was to reduce consumption going into the holiday season, and why would they do that? Hasten the deterioration of the economy and you hasten the political shift to Republicans. The Democrats must fail, that's the game; you heard it from Rush Limbaugh, and the economic collapse will be a platform to restructure the GOP base. It will usher in a future authoritarian takeover during PO and economic collapse. We'll see further blocks to any real progress as we move forward into worldwide overshoot.

We are being played by party's who represent the same thing. It's classic Miachevelli.

[joewp]

No, no, no, the reason the republicans blocked this bill was to reduce consumption going into the holiday season, and why would they do that? Hasten the deterioration of the economy and you hasten the political shift to Republicans. The Democrats must fail, that's the game; you heard it from Rush Limbaugh, and the economic collapse will be a platform to restructure the GOP base. It will usher in a future authoritarian takeover during PO and economic collapse. We'll see further blocks to any real progress as we move forward into worldwide overshoot.

We are being played by party's who represent the same thing. It's classic Miachevelli.

+1

They're both sides of the same coin, and the coin is owned by the banks.

[Bill from Pennsylvania]

No, no, no, the reason the republicans blocked this bill was to reduce consumption going into the holiday season, and why would they do that? Hasten the deterioration of the economy and you hasten the political shift to Republicans. The Democrats must fail, that's the game; you heard it from Rush Limbaugh, and the economic collapse will be a platform to restructure the GOP base. It will usher in a future authoritarian takeover during PO and economic collapse. We'll see further blocks to any real progress as we move forward into worldwide overshoot.

We are being played by party's who represent the same thing. It's classic Miachevelli.

+1

They're both sides of the same coin, and the coin is owned by the banks.

..and its being lent back out at a 30:1 ratio.... with interest!

[anarchist]

No, no, no, the reason the republicans blocked this bill was to reduce consumption going into the holiday season, and why would they do that? Hasten the deterioration of the economy and you hasten the political shift to Republicans. The Democrats must fail, that's the game; you heard it from Rush Limbaugh, and the economic collapse will be a platform to restructure the GOP base. It will usher in a future authoritarian takeover during PO and economic collapse. We'll see further blocks to any real progress as we move forward into worldwide overshoot.

We are being played by party's who represent the same thing. It's classic Miachevelli.

i predicted this last year. good job mega for seeing through the BS!

REPUBLICAN OR DEMOCRAT hahahahaha the biggest scam of the 20th and 21st century  is showing up!

[Bruce]

 The bottom line is so many politicians are on the take from the banks and credit card companies it is a wonder anything detrimental to them even gets proposed much less passed. This block in essence gives them time to screw us over but good. Thank God I have no credit card debt. If any idiot goes Christams shopping on a credit card then they deserve all that is coming to them.....................................Bruce

[yellowrocker]

I find it interesting that the senate ran out of time to debate the issue because they had to do a tribute to Senator Robert Byrd. Maybe less tributes and more work? Just a thought.

[AreWeThereYet]

I find it interesting that the senate ran out of time to debate the issue because they had to do a tribute to Senator Robert Byrd. Maybe less tributes and more work? Just a thought.

They're not stupid..they know it doesn't matter if they freeze it today or let it go til Feb 2010 like the bill has.
That bill passed in May.  That gave the banks 6 months to "organize". 

Freezing the rates now (at what 29.99%) is too little, too late.