I’m not asking for OVERLY severe punishments. I’m asking for adequate punishements.
Okay. But, getting everyone to agree on what constitutes an adequate punishment is where the difficulties arise.
Certainly. Anything of worthwile accomplishment is often difficult. But the work needs to be done.
More like they were amended because of intense pressure by banks and credit card companies on Republican legislators.
Ah, yes. Brush it off. Except that most of those innocent people were those who can’t get from under their tremendous medical bills now, and will be evicted when the banks sue them and take their homes to settle accounts.
How was it not fair to them? They didn’t have to absorb the credit card companies’ losses. The credit card companies had to, and given their tremendous profits, it meant that they’d have to settle for lower profits.
Partially correct. In living our faith, it would require not avoidance of positions of leadership or encouragement of others in leadership. Leadership of government does matter whether we are disgusted or not.
I hope you’re not suggesting that we pull a Martin Luther as a way of crashing through any roadblock.
No. I was thinking more of a St. Bridget, St. Thomas Moore, St. Paul etc. sort of way.
Use some common sense here Richardols: consumers absorb bankruptcy losses and fraud losses because prices and fees go up. Do you think these companies are just going to eat the losses?? Come back to reality and take a deep breath. You and I—the honest consumers who pay our bills and live within our means—pay higher prices because companies are defrauded and because of excessive bankruptcies. It’s called hidden inflation. It’s also called basic economics.
How do prices go up when a credit card company makes less profit than they would have liked?
They’re not taking losses. They are making less profits.
They are not taking losses. They are making less profits.
It’s called passing on cost increases to consumers. If banks can get away with charging more to offset cost increases then they will, and they have, and they do. From balloon payments to hidden fees, to higher interest rates, to rent-to-own contracts, to pay later and on and on.
They are not making less profits. See above.
The discipline either occurs or the system crashes. It is best for all. Very few are in a position to follow their own budget let alone pay for someone else’s debts.
I’m supposed to feel sorry for banks because of their unabashed greed?
Banks and credit card companies are indeed predatory, especially towards the poor.
And they insist on maintaining that upper edge no matter what it takes.
Which credit card companies are operating in the red?
Nope. You are supposed to feel sorry for those affected by their greed - working families.
Actually towards all income classes. They are equal opportunity for-profit companies. Not all banks are bad but many are.
They aren’t. They are making the same profits by passing on costs to customers. Therefore, less people that do not pay their debts, better for society.
And I am. The greed of banks is unlimited. Bank of America charges pay-by-phone customers $15 per transaction, and $5 per transaction even using the Internet. Pure greed.
Equal opportunity to swindle is more like it. I’ve gotten offers in the mail for credit cards with a 29% opening rate plus a $175 per-annum fee, a $59 New Account fee and a $7.50 per month maintenance fee. I can laugh at such, but the poor get sucked in. I don’t think there’s a level in Hell deep enough to provide what bankers deserve.
Sure, somewhere there must be an honest bank.