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Blog of Mass Destruction

Banksters Do Own Congress

By The Reverend Published: May 18, 2009

There is no apparent way for the bankster's jackboot to be removed from the neck of the American population.

Republicans, we have known for decades, will always side with the banksters when legislation bubbles to the surface in Congress. Banksters are the most important constituents Republicans have.

Ever since the days of Bill Clinton, however, a good portion of the Democrats in Congress have been finding their core constituents on Wall Street, as well.

Senator Bernie Sanders (I-VT) sponsored an amendment to the so-called credit card legislation working it's way through the system. The amendment would have capped credit card interest rates at 15%. The American people would have been the benefactors of that amendment....if it would have passed.

It didn't.

All Senate Republicans, except Charles Grassley (Iowa), plus TWENTY ONE DEMOCRATS, voted to kill the amendment that would have helped millions of Americans during a deep recession.

It's little consolation....but 32 Democrats did vote for the amendment. A little over half of the Democrats in the Senate see the Aerican people as their constituents. All Republicans, less Grassley, plus 21 Democrats regard banksters as their true constituents.

And that vote explains why we're in the economic fix we're in.

Here is the roll call vote.....

Roll-call vote on credit card limitations
____________

On the same topic....

I've been a customer of BankOne, now Chase, for over 25 years. I have excellent credit ratings all around and my current mortgage is owned by Chase, who bought it, round robin like, after two other companies owned it first.

Chase sent me a new offer for a business credit card. If I take the card, I'm told in the mailer, I'll get a bonus of $50 cash back, 3% cash back on purchases made in the top three categories where I spend the most, and 1% cash back on all other card purchases.

I'm told to....GET THE REWARDS THAT YOU WANT....in big block letters.

Now, get a load of what the mailer states in the "rate, fee and other cost information" addendum....

APR: 13.24% variable

Default APR: The Prime Rate plus up to 26.99%, but not more than 29.99%.

And the best....footnoted in even smaller print....

Rates, fees and terms may change: We reserve the right to change the account terms (including the APRs) at any time for any reason, in addition to APR increases that may occur for failure to comply with the terms of the account. The APRs for this offer are not guaranteed; APRs may change to higher APRs, fixed APRs may change to variable APRs, or variable APRs may change to fixed APRs. Any changes will be in accordance with your account agreement.

In other words, as I understand it.....Chase can do what-the-f*ck-ever they please with my account, when-the-f*ck-ever they are pleased to do it. What else could, "at any time for any reason" mean?

And mind you, I have been an excellent customer of BankOne/Chase for decades. How tricky and disingenuous would an offer to lower credit scoring , newer customers be?

But 21 Democratic Senators joined in with all but one Republican to protect credit card companies, like Chase, from having to cap their credit card interest rates at 15%.

In light of the Noah's flood of tax payer cash given to these big bankster institutions on account of they f*cked everything up, one would think that U.S. senators would think twice about refusing to defend the American workers who supplied that tax payer cash....but one would be mistaken.

21 Democratic senators and 40 Republican senators, putting their best Dick Cheney grimace-face on, told us bankster rescue dogs, after rescuing the banksters from the dangerous slopes of insolvency.....to go f*ck ourselves.

Thanks, you assh*les.

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