Can we solve the banking mess like this?
Posted on September 11th, 2009 by admin
Banking
We (the people) issue the large financial institutions that need bailed out a credit card which carries a 28% interest rate on the unpaid balance with lots of bells and whistles hidden in the small print that they don’t know they’ll be paying for as well. Also if they miss one single payment or are late with a payment 1 day, their interest rate can be hiked and other fees charged to their account. Just like they’ve been screwing us for years! Good plan? Yes? No?
We (the people) issue the large financial institutions that need bailed out a credit card which carries a 28% interest rate on the unpaid balance with lots of bells and whistles hidden in the small print that they don’t know they’ll be paying for as well. Also if they miss one single payment or are late with a payment 1 day, their interest rate can be hiked and other fees charged to their account. Just like they’ve been screwing us for years! Good plan? Yes? No?
Filed under: Politics
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Those who perpertrated and benefitted (such as Bernanke and Paulson as well as Wall St) from the crime need to pay for it’s cleanup.
These banks charge ridiculous usurous rates and target everyone from the mentaly disabled to college students to the elderly and they are criminals. The things they get away with would be loan sharking and the average citizen would go to jail for trying to pull what they do.
Why will no one talk about where the money will come from, or better still where it will end up? The plan is to borrow from China and deposit with fractional reserve banks that means that leverage will be 7 0to 10:1 and the hedge funds 30:1 so the system will be swamped by this capital it only leads to one thing hyper inflation.
Let the guys who have been at the wheel for the last 3 years who should have stopped this then pay for it. You don’t let the fox run the hen house.
New York City Job Listings
Yes we or the capitalists can and have to solve the banking mess of Wall St.- nearly 80 years after the 30′s.
But more will come, as the capitalist system is far from perfect or good (for idealists).
Since the Marxists have also failed in their attempts to improve/change the system, it is high time – after this banking mess – to try to find a way out from the capitalists’ dead alley. coz it is not only financially unsustainable, also in other more important aspects e.g. Morality, Pollutions,Civilization and Human Survival.